Question

In May, 2018 a store had a furniture with a listed price of $550, having a sales tax of 3% on the listed price. Next month the price increased by 33 1/3 %. What sales tax should be paid in dollars on the new price?

Answer 1

$\boxed{\ 22}$ of sales tax should be paidon the new price.

Further Explanation:

Calculation:

The given listed price of furniture in the month of May is $\ 550.$

The sales tax is of $3\%$ on the listed price of the furniture.

The price of the month May is increased by $33\dfrac{1}{3}\%.$

The increased price of the furniture can be obtained as follows,

$\begin{aligned}{\text{Increased price}} &= 550 + \left( {33\frac{1}{3}\% \times 550} \right)\\&= 550 + \left( {\frac{{33.34}}{{100}} \times 550} \right)\\&= 550 + 0.3333 \times 550\\&= 550 + 183.32\\&= 733.32 \\\end{aligned}$

The new price of the furniture in dollars is $\ 733.32.$

The sales tax is of  $3\%$ on the listed price.

The sales tax on the new price can be obtained as follows,

$\begin{aligned}{\text{Sales tax}}&= 3\% {\text{ of new price}}\\&= \frac{3}{{100}} \times 733.32\\&= \ 22\\\end{aligned}$

$\boxed{\ 22}$ of sales tax should be paid in dollars on the new price.

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Answer details:

Grade: High School

Subject: Mathematics

Chapter: Sales Tax

Keywords: May, 2018, store, furniture, listed, price, listed price, $550, sales, sales tax, 3%, tax on listed price, next month, price increased, increased price, month, 33 1/3%, paid, dollars, new price.

Answer 2

Answer:   $ 22

Step-by-step explanation: