Question

You purchased a PlayStation 5 for $500 and a game for $60. If there is a 7.12% sales tax, what is the total amount you will pay for the PlayStation 5 and the game?

Answer 1

To find the total amount paid for a PlayStation 5 at $500 and a game at $60 with a 7.12% sales tax, one would calculate $560 x 0.0712 to get the sales tax of $39.87 and then add it to $560, resulting in a total of $599.87 paid.

Step-by-step explanation:

To determine the total cost of the PlayStation 5 and the game including sales tax, one must first calculate the total cost of both items before tax, then calculate the amount of sales tax, and finally add the sales tax to the pre-tax total.

First, add the cost of the PlayStation 5 and the game:
$500 (PlayStation 5) + $60 (game) = $560

Next, convert the sales tax rate from a percentage to a decimal by dividing by 100:
7.12% / 100 = 0.0712

Then, multiply the total cost by the sales tax rate to find the amount of sales tax to be paid:
$560 x 0.0712 = $39.872

Round the sales tax to the nearest cent:
$39.872 rounded is $39.87.

Finally, add the sales tax to the total cost before tax to find the total amount paid:
$560 + $39.87 = $599.87

Therefore, the total amount paid for the PlayStation 5 and the game, including a 7.12% sales tax, is $599.87.