Question

An antique clock was marked up 155% from an original cost of $500. Last Friday, Emma bought the antique clock and paid an additional 8% in sales tax. What was her total cost?$

Answer 1

Original cost of antique clock = $500

Mark up = 155%

New cost of the antique clock after mark up is:

`\begin{gathered} (100+155)\text{ \% }*\text{ \$500 } \\ =255\text{\%}*\text{ \$500} \\ =\text{ \$1275} \end{gathered}`

Emma paid an additional 8% in sales tax. The new cost price as at the time Emma bought the antique clock is $1275. Hence, the sales tax on the cost of the antique clock is:

`8\text{\%}*\text{ \$1275}=\text{ \$102}`

Therefore, her total cost for the antique is the addition of the cost of the antique and the sales tax

`\text{ \$1275+ \$102 =\$1377}`

Her total cost for the antique clock is $1377