Question

A store pays $10 for a bracelet, and the markup is 115%. A coustomer will also pay 5 1/2% sales tax what will be the closest cost to the bracelet to the nearest cent

Answer 1

$22.68 (to the nearest cent)

Explanation:

A 115% markup can be calculated in this way: 1.15($10) = $11.50.

Thus, the selling price is $10 + $11.50, or $21.50.

The price the customer must pay, including the 5 1/2% tax, is

1.055($21.50), or $22.68 (to the nearest cent)