a jewelry store bought a gold necklace and marked it up 110% from the original cost of $23.52. later on…

a jewelry store bought a gold necklace and marked it up 110% from the original cost of $23.52. later on, dean purchased the gold necklace and paid 14.75% sales tax. how much, including tax, did he pay for the gold necklace? $

a jewelry store bought a gold necklace and marked it up 110% from the original cost of $23.52. later on, dean purchased the gold necklace and paid 14.75% sales tax. how much, including tax, did he pay for the gold necklace? $

Answer

Explanation:

Step1: Calculate marked - up price

The marked - up percentage is 110% or 1.1 in decimal form. The original cost is $23.52. The marked - up price $P_1$ is calculated by multiplying the original cost by $(1 + 1.1)$. $P_1=23.52\times(1 + 1.1)=23.52\times2.1 = 49.392$

Step2: Calculate price with tax

The sales tax rate is 14.75% or 0.1475 in decimal form. The final price $P$ that Dean paid is the marked - up price multiplied by $(1+0.1475)$. $P = 49.392\times(1 + 0.1475)=49.392\times1.1475$ $P=49.392\times1.1475 = 56.67232$ Rounding to two decimal places, $P\approx56.67$

Answer:

$56.67$