the tax rate as a percent, r, charged on an item can be determined using the formula c/p - 1 = r, where c is…

the tax rate as a percent, r, charged on an item can be determined using the formula c/p - 1 = r, where c is the final cost of the item and p is the price of the item before tax. louise rewrites the equation to solve for the final cost of the item: c = p(1 + r). what is the final cost of a $40 item after an 8% tax is applied?

the tax rate as a percent, r, charged on an item can be determined using the formula c/p - 1 = r, where c is the final cost of the item and p is the price of the item before tax. louise rewrites the equation to solve for the final cost of the item: c = p(1 + r). what is the final cost of a $40 item after an 8% tax is applied?

Answer

Explanation:

Step1: Identify values

$p = 40$, $r=0.08$ (since 8% = 0.08)

Step2: Use the formula

The formula for the final cost $c=p(1 + r)$. Substitute the values: $c = 40\times(1 + 0.08)$.

Step3: Calculate

First, calculate inside the parentheses: $1+0.08 = 1.08$. Then, $c=40\times1.08=43.2$.

Answer:

$43.2$