Question

A bicycle has a listed price of $521.99 before tax. If the sales tax rate is 7.5%, find the total cost of the bicycle with sales tax included.Round your answer to the nearest cent, as necessary.

Answer 1

Total cost of the bicycle with sales tax included = $561.14

STEP - BY - STEP EXPLANATION

What to find?

The total cost of the bicycle with sales tax included.

Given:

Price of bicycle before tax = $521.99

Tax rate = 7.5%

To solve the given problrm, we will follow the steps below:

Step 1

Calculate the amount of the tax rate.

`\text{amount of tax rate =}(7.5)/(100)*521.99`
`=(3914.925)/(100)`
`=39.14925`

Step 2

Add the amount of tax obtained in step 1 to the price of bicycle before tax.

`\text{Total tax =price of bicycle before tax+tax}`
`=521.99+39.14925`
`\approx561.14`

Therefore, the total cost of the bicycle with sales tax included is $561.14