Question

Difficulty: EasyTaxes and Tips

Read the scenario below and determine the missing values.

Answer:Marcus buys a new winter coat with a price tag of 80.00.Thestoreappliesa580.00. The store applies a 5% sales tax to all clothing purchases. The amount of sales tax added to his purchase is 【4】, which brings the total cost of the coat to $【84】.

Answer

The sales tax amount is 4.00andthetotalcostis4.00 and the total cost is 84.00.
First, the 5% tax on the 80.00coatiscalculatedbymultiplying80by0.05,yielding80.00 coat is calculated by multiplying 80 by 0.05, yielding 4.00 for the isolated tax amount. Then, this 4.00taxisaddedtotheinitial4.00 tax is added to the initial 80.00 price, resulting in a final total of $84.00.

Step-by-Step Solution

1
Calculate the amount of sales tax.
80.00×0.05=80.00 \times 0.05 = 4.00
To find the tax amount, convert the percentage (5%) to a decimal (0.05) and multiply it by the original price.
2
Calculate the final total cost.
80.00+80.00 + 4.00 = $84.00
The final total is the sum of the original price and the calculated sales tax.

Key Concept

Calculating sales tax amounts and finding the final total cost.
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