Answer:
First consider the original amount.
Then consider the rate of tax or markup
To find the tax or markup, multiply the rate by the original amount.
To find the total cost, add the tax or markup to the original amount.
Step-by-step explanation:
Example
A phone has a listed price of $790 before tax. If the sales tax rate is 6.5% find the total cost of the phone with sales tax included. Round your answer to the nearest cent as required.
Solution
Step 1:
List price of the phone = $790
Sales tax rate = 6.5%
Step 2:
Sales tax = 6.5% of 790=0.065×790=51.35
Step 3:
Total cost of phone including sale tax = list price + sales tax
= 790+51.35
= $841.35
hope this helped!
