Question

What is the amount of tax and the selling price for an item originally priced at $74.77 with a sales tax rate of 10%?

A) Tax: $7.48, Selling Price: $82.25
B) Tax: $7.77, Selling Price: $82.54
C) Tax: $7.05, Selling Price: $81.82
D) Tax: $8.25, Selling Price: $83.02

Answer 1

To calculate the amount of tax and selling price, multiply the original price by the sales tax rate and then add the tax to the original price. The correct answer is option A) Tax: $7.48, Selling Price: $82.25.

Step-by-step explanation:

To find the amount of tax and the selling price for an item originally priced at $74.77 with a sales tax rate of 10%, we need to calculate the amount of tax and then add it to the original price to find the selling price.

To calculate the tax, we multiply the original price by the sales tax rate, which is 10% or 0.10. Therefore, the tax is $74.77 x 0.10 = $7.48.

To find the selling price, we add the original price and the tax. Therefore, the selling price is $74.77 + $7.48 = $82.25.

Therefore, the correct answer is

Option A)Tax: $7.48, Selling Price: $82.25.