Question

A store owner paid $15 for a book. She marked up the price of the book by 40% to determine its selling price.

Part A
What is the selling price, in dollars, of the book?
Enter your answer in the box.
Part B
A customer buys a different book that has an original selling price of $38. The book is discounted 25%. The customer must pay a 6% sales tax on the discounted price
of the book.
What is the total amount, in dollars, the customer pays for the discounted book?
Enter your answer in the box.

Answer 1

PART A:

The selling price is $21.

PART B

The cost is $30.21

Explanation:

In order to use percents in math questions, you have to change the percent to a decimal. 40% in the math question will be .40 (which is the same as just .4) in your calculations.

$15 × 40%

= 15 × .4

= 6

So, $6 is the the amount of the markup. Add $6 to the $15 to determine the selling price.

6 + 15 = 21

The selling price is $21.

25% needs to be changed to .25 for calculations.

6% needs to be changed to .06 for calculations.

$38 × 25%

=38 × .25

= 9.5

This is a discount. subtract .

38 - 9.5

= 28.5

This is the discounted price. Now find tax.

28.5 × .06

= 1.71

Add tax to price.

28.5 + 1.71

= 30.21

The cost is $30.21

Answer 2

A) $21.00

B) $30.21

Explanation:

Part A

The markup is ...

0.40 × $15.00 = $6.00

The selling price is ...

cost + markup = $15 +6 = $21.00

The selling price of the book is $21.00.

__

Part B

The discount is ...

0.25 × $38.00 = $9.50

The selling price is ...

original price - discount = $38.00 -9.50 = $28.50

The tax is ...

0.06 × $28.50 = $1.71

So the total the customer pays is ...

$28.50 +1.71 = $30.21

The customer pays $30.21 for the discounted book.