Start by calculating the dollar amount of the markup. Then, add the markup to $10. Remember that tax is added to the price after the markup is added.
About $ 22.68
Practice makes perfect
We want to find what the total cost of a bracelet after a markup and the addition of sales tax. Let's start by calculating the dollar amount of the markup using the percent equation.
part = percent * whole
We are given that a store pays $ 10 for the bracelet, then marks it up by 115 %. Let m represent the dollar amount of the markup.
m = 115 % * $ 10
We need to write the percent as a decimal before we can solve the equation that we created. We can do this by ignoring the percent symbol and moving the decimal point two places to the left.
Therefore, 115 % is equal to 1.15.
m = 115 % * $ 10 [0.3em] ⇓ [0.3em]
m = 1.15 * $ 10
Now we can solve the equation for m. For simplicity, we will ignore the units for now.
We got that m= 11.5 is a solution to the equation. This means that the dollar amount of the markup is about $ 11.50. Now we can calculate the cost of the bracelet with the markup.
$10 + $ 11.50 = $ 21.50
The cost of the bracelet with the markup is about $ 21.50. Next, we are given that a customer will also pay a 5 12 % sales tax. This tax is added onto the cost after the markup is added. We can find the dollar amount of the sales tax using the percent equation. Let s represent the dollar amount of the sales tax.
part = percent * whole
⇓
s = 5 12 % * $ 21.50
Let's write 5 12 as a decimal.
We got that the dollar amount of the sales tax is about $ 1.18. Finally, let's calculate the total cost of the bracelet by adding the sales tax to $21.50.
$21.50 + $ 1.18 = $ 22.68
The total cost of the bracelet is about $ 22.68.
