Question

a bicycle has a listed price of 749.95 before tax. if the sales tax rate is 9.5%, find the total cost of the bicye with sales tax included​

Answer 1

$821.20 (nearest cent)

Explanation:

If a sales tax of 9.5% is applied,
the final cost of the bicycle = 100% + 9.5% = 109.5% of its listed price

Convert 109.5% into a decimal:

109.5% = 109.5/100 = 1.095

So 109.5% of $749.95 = 1.095 × 749.95

= $821.20 (nearest cent)

Answer 2

821.20

Explanation:

The tax is added to the listed price in order to find the total cost. The tax is computed by multiplying the listed price by the tax rate.

tax = 749.95 × 0.095 = 71.25 . . . . . (rounded up from 74.24525)

total cost = listed price + tax = 749.95 +71.25 = 821.20

The total cost of the bicycle with sales tax included is 821.20.