Question

A jewelry store purchases necklaces for n dollars each. The necklaces are then marked up by 20%, and costumers are charged 5% sales tax on the selling price. The expression n+

Answer 1

Explanation:

Cost price = $n

Mark up price = selling price- cost price

= (20% × $n)

Selling price = $n + (20% × $n)

Sales tax = 5% × ($n + (20% × $n))

Total cost = selling price + sales tax

Total cost = $n + (20% × $n) + 5% × $n + (20% × $n)

= 1.2 × $n + 0.06 × $n

= 1.26 × $n.