Question

For this item, any answers that are not whole numbers should be entered as decimals, rounded to the hundredth.

Answer 1

Answer:

67%

$33.92

Step-by-step explanation:

So a few things happen.  Starting at $50.88 there is a markup, so it is now y dollars.  Then a tax of 6.25% is applied to this y, which gets $90.10.  So we want to work backwards to find y.

First, we want to find a number that when it gets a tax of 6.25%, or .0625, we get 90.10.  So it's a pretty simple algebra problem.

90.1 = y * 1.0625

90.1/1.0625 = y

84.8 = y

So now we know, before tax the store charges $84.80.  if you don't get how I did something let me know.

Now, we want to know the percent increase from $50.88 to $84.80.  We know it is an increase of $33.92.  Well, we can use that.  33.92 is what percent of 50.88.  or an algebra way of writing it is 50.88x = 33.92 So let's solve that real quick.

50.88x = 33.92

x = 33.92/50.88

x = 2/3

So now, in conclusion, startign with a price of $50.88, the store marks it up by 2/3, which is 67% more or less, and then there is a 6.25% sales tax