If the simple interest on $2,000 for 2 years is $280, then what is the interest rate?
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Answer
Find out the what is the sale price of the jeans including tax .
To prove
Let us assume that the sale price of the jeans including tax be x .
As given
Michael is buying a pair of jeans that regularly cost $40.
They are on sale for 20% off.
If the tax rate is 8% .
20% is written in the decimal form
= 0.20
8% is written in the decimal form
= 0.08
Than the equation becomes
x = 40 - 40 × 0.20 + 40 × 0.08
x = 40 - 8 + 3.2
x = 43.2 - 8
x = $35.2
Therefore the sale price of the jeans including tax be $ 35.2 .