Question

Find the amount of tax and the total cost of a $70 object taxed at 15%."

a. $10.50 tax, $80.50 total cost
b. $10.50 tax, $70.50 total cost
c. $15.00 tax, $85.00 total cost
d. $15.00 tax, $75.00 total cost

Answer 1

The sales tax on a $70 object taxed at 15% is $10.50. The total cost, including sales tax, is $80.50.

Step-by-step explanation:

To calculate the amount of sales tax for a $70 object taxed at 15%, we first convert the tax rate from a percentage to a decimal. The conversion is done by dividing the tax rate by 100. Thus, 15% becomes 0.15. Next, we multiply the decimal form of the tax rate by the cost of the object to find the amount of sales tax.

$70 × 0.15 = $10.50

Now that we have the amount of sales tax, we add it to the original cost of the object to find the total cost.

$70 + $10.50 = $80.50

Therefore, the amount of sales tax on a $70 object at a 15% tax rate is $10.50, and the total cost including the tax is $80.50.