Q27. - Algebra 1

Question

Find the total price of each item.

Book: $25.95  

tax: 5.25%

Step-by-Step Solution

Answer

The total cost of a book is $27.312.

Step 1. Use the definition of the percentage change.

The percent change is the increase or decrease in the value of a quantity. If the new value is larger than the original value then it is a percent increase and if the change in value is lesser than the original value it is called percentage decrease.

Step 2. Concept of sales tax.

Sales tax is a tax that is added to the price of the item the final price is called selling price. It is a percent of the increase in the cost.

Step 3. Find the new price.

We are given the following price and the tax percentages:

Book: $25.95  

tax: 5.25%

The tax is 5.25% of the price. We will add this amount to the original price. 

So If x represents the new price after adding taxes then we have:

$\begin{array}{l}x=5.25\%\text{ of Cost + Cost}\\ x=5.25\%\times \$25.95+\$25.95\\ x=\frac{5.25}{100}\times 25.95+25.95\\ x=0.0525\times 25.95+25.95\\ x=1.3623+25.95\\ x=\$27.312\end{array}$ 

Thus, the total cost of a book is $27.312.