Question

The tax rate as a percent, r, charged on an item can be determined using the formula StartFraction c Over p EndFraction minus 1 equals r. – 1 = r, where c is the final cost of the item and p is the price of the item before tax. Louise rewrites the equation to solve for the final cost of the item: c = p(1 + ). What is the final cost of a $40 item after an 8% tax is applied?

Answer 1

Answer:

The answer i had got is 43.20

Step-by-step explanation:

Answer 2

Answer:

$43.2

Step-by-step explanation:

Given Formula : $c=p(1+r)$

r is in decimals

Where c is the final cost of the item

p is the price of the item before tax.

Now we are supposed to find the final cost of a $40 item after an 8% tax is applied

So, r = 8% = 0.08

p = $40

Substitute the values in the formula :

$c=40(1+0.08)$

So, $c=43.2$

Hence  the final cost of a $40 item after an 8% tax is applied is $43.2