Can you check the following?
10. A store pays $10 for a bracelet, and the markup is 115%. A customer will also pay 5 1/2% sales tax. What will be the total cost of the bracelet to nearest cent?
t = 1.15 x 10
t = $11.5 (markup price)
t = $10 + 11.5
t = $21.50 (cost of bracelet w/ markup)
t = 21.50 x 5.50% = 21.50 x 0.055
t = $22.68 total cost
t = 21.50 x
thanks!
You are correct. The total cost is $22.68
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ur dad
Sure! Let's break down the calculation step by step to find the total cost of the bracelet:
1. First, we need to find the markup price of the bracelet. The markup percentage given is 115%, which means the store is selling the bracelet at 115% of its cost price. To find the markup price, we multiply the cost price by 1.15:
Markup Price = $10 x 1.15 = $11.50
2. Next, we need to calculate the cost of the bracelet with the markup included. This is simply the cost price plus the markup price:
Cost with Markup = $10 + $11.50 = $21.50
3. Lastly, we need to add the sales tax to find the total cost of the bracelet. The customer will be paying a 5 1/2% sales tax, which can be expressed as 0.055 in decimal form. To find the sales tax amount, we multiply the cost with markup by the sales tax percentage:
Sales Tax Amount = $21.50 x 0.055 = $1.1825
4. Finally, we add the sales tax amount to the cost with markup to get the total cost of the bracelet:
Total Cost = $21.50 + $1.1825 = $22.68 (rounded to the nearest cent)
So, the total cost of the bracelet would be $22.68 to the nearest cent.