Question

expenses percentage of sales Road the ceoviciments: Fequirement 4. Compuit the monthly margn of safoyy in dolars if the shop acheves its inceme goal Hegan by idenitying tow fortuia to concule the margn of salety The maigin of sakery is Fequirement Z. txpiess Temys margn of salety as a percentage of twgot sites (Aciend the piricentage to the pewest whole percernt) The maren er saletr fercentage a 4 of langel taks Requirement 3. What is terry's opesating laverage lactor at the targot level of operiting income?

Answer 1

The total amount paid including sales tax and tip is calculated by first adding 4% sales tax to the original price, and then adding a 20% tip based on the post-tax amount.

Step-by-step explanation:

To calculate the total amount paid after including a 4% sales tax and a 20% tip, you can follow this two-step process. First, you calculate the total including tax by multiplying the original price by 1.04 (to account for the 4% sales tax). Next, you calculate the total including the tip by taking the amount including tax and multiplying it by 1.20 (to account for the 20% tip).

Mathematically, if the price before tax and tip is P, the total amount paid T is calculated as T = P × 1.04 × 1.20. This incorporates both the sales tax and tip in one formula.

This method ensures that the tip is calculated based on the post-tax amount, as is customary in many service industries, such as dining at a restaurant.