Becky bought a magazine for $3.67, and the sales tax was 8.25%. How much sales tax did Becky pay on the magazine?
2 answers:
In this question, it is given that
Becky bought a magazine for $3.67, and the sales tax was 8.25%.
Here the sales tax is 8.25% or 0.0825 .
So first we have to find 0.0825 of 3.67 and for that we have to multiply them . THat is
Therefore , Becky paid $0.30 as a sales tax on the magzine . Correct option is B
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Answer:
You should invest $2000 at 5% simple interest in order to earn $100 interest in 12 months.
Step-by-step explanation:
Using the formula
where
I = Interest earned
P = The principal (let say in $)
r = The Interest Rate
t = time
Given that
- I = $100
- r = 5%
- t = 12 month = 1 year
- P = The principal amount needed to invest (let say in $)
Thus,
100 = P × 5% × 1
100 = P × 5/100 × 1
100 × 100 = P × 5
10000 = P × 5
P = 10000/5
= 2000 (let say in $)
Thus, you should invest $2000 at 5% simple interest in order to earn $100 interest in 12 months.