Final answer:
To find the total price of a color TV with a marked price of $370 including 6% sales tax, calculate the tax by multiplying the price by 0.06 to get $22.20, then add this to the original price for a total of $392.20.
Step-by-step explanation:
A sales tax is a consumption tax imposed by the government on the sale of goods and services. A conventional sales tax is levied at the point of sale, collected by the retailer, and passed on to the government. Calculate the total cost of a color TV including a 6% sales tax on the marked price of $370. To calculate the total price including sales tax, we first need to find the amount of sales tax by converting the percentage to a decimal and then multiplying it by the marked price.
The decimal form of 6% is 0.06, so we multiply $370 by 0.06 to find the sales tax amount. $370 × 0.06 = $22.20. Now, we add the sales tax to the original price to find the total price: $370 + $22.20 = $392.20. Therefore, the correct answer is (c) $392.20, which represents the total cost of the TV after including the 6% sales tax.