4. garth buys snow tires from a dealer in thunder bay, on. the tires cost $79.00 each. to make a profit, he…
4. garth buys snow tires from a dealer in thunder bay, on. the tires cost $79.00 each. to make a profit, he must mark them up 40%. how much must a customer pay for 4 tires if there is a 12% hst on the final sale?\n5. because the cost of ingredients has gone up, maurice has decided to increase the cost of meals in his restaurant by 12%. how much will he now charge for a grilled salmon fillet that used to cost $17.95?\n6. the wholesale cost of a certain brand of t - shirts is $132.00/dozen. to cover costs and make a profit, lorena marks them up by 75%. if gst is 5% and pst is 7%, what will a customer have to pay for 1 t - shirt?\n7. an mp3 player that harry wants to buy sells for $89.95 in bc where there is 12% hst. when he is on holiday in alberta (where there is only the 5% gst), harry sees the same mp3 player for $94.89. which is a better buy and by how much?
Answer
4.
Explanation:
Step1: Calculate the marked - up price of one tire
The cost of one tire is $79. Mark - up is 40%, so the marked - up price of one tire $P_1$ is $79\times(1 + 0.4)=79\times1.4 = 110.6$.
Step2: Calculate the cost of 4 tires before tax
The cost of 4 tires before tax $P_2$ is $4\times110.6 = 442.4$.
Step3: Calculate the total cost with 12% HST
The total cost $P$ with 12% HST is $P_2\times(1 + 0.12)=442.4\times1.12=495.488\approx495.49$.
Answer:
$495.49$
5.
Explanation:
Step1: Calculate the new price of the grilled salmon fillet
The original cost of the grilled salmon fillet is $17.95$. Increase it by 12%, so the new price $P$ is $17.95\times(1 + 0.12)=17.95\times1.12 = 19.904\approx19.90$.
Answer:
$19.90$
6.
Explanation:
Step1: Calculate the marked - up price per dozen T - shirts
The wholesale cost per dozen T - shirts is $132$. Mark - up is 75%, so the marked - up price per dozen $P_1$ is $132\times(1 + 0.75)=132\times1.75 = 231$.
Step2: Calculate the cost of one T - shirt before tax
The cost of one T - shirt before tax $P_2$ is $\frac{231}{12}=19.25$.
Step3: Calculate the total tax rate
The GST is 5% and PST is 7%, so the total tax rate is $0.05+0.07 = 0.12$.
Step4: Calculate the final price of one T - shirt
The final price of one T - shirt $P$ is $P_2\times(1 + 0.12)=19.25\times1.12 = 21.56$.
Answer:
$21.56$
7.
Explanation:
Step1: Calculate the total cost of the MP3 player in BC
The price of the MP3 player in BC is $89.95$. With 12% HST, the total cost $C_1$ is $89.95\times(1 + 0.12)=89.95\times1.12 = 100.744\approx100.74$.
Step2: Calculate the total cost of the MP3 player in Alberta
The price of the MP3 player in Alberta is $94.89$. With 5% GST, the total cost $C_2$ is $94.89\times(1 + 0.05)=94.89\times1.05 = 99.6345\approx99.63$.
Step3: Compare the two costs
$C_1 - C_2=100.74 - 99.63 = 1.11$. The MP3 player in Alberta is a better buy.
Answer:
The MP3 player in Alberta is a better buy by $1.11$.