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19. Mr. Jones, the owner of a small store buys kayak paddles for $50.00 each, and sells them
for 180% of the purchase price. A customer buys a paddle for $97.65, which includes the selling price and sales tax. What is the sales tax rate?

Respuesta :

Answer:

$7.65.

Step-by-step explanation:

The cost of the paddle including the mark up

= 50 * 1.8 = $90,

So the sales tax = 97.65 - 90 = $7.65.

The sales tax rate is 8.5%

Given that:

  • Cost price of paddles for Mr. Jones = $50
  • Selling price of paddles for Mr. Jones = 180% of cost price
  • The price at which customer  buys the paddles = $97.65
  • Customer paid sales tax too.

To find:

Rate of sales tax applied.

Calculations:

Let the sales tax's rate be r%.

Cost price for the customer = Selling price for Mr. Jones + Sales tax on selling price for Mr. Jones

Selling price for Mr Jones is:

[tex]SP = \dfrac{50 \times 180}{100}\\\\SP = 18 \times 5 = \$90[/tex]

Thus we have:

[tex]\text{CP for customer} = 90 + \dfrac{90 \times r}{100}\\\\97.65 = 90 + \dfrac{9r}{10}\\\\\dfrac{9r}{10} = 97.65 - 90\\\\\dfrac{9r}{10} = 7.65\\\\r = \dfrac{7.65 \times 10}{9}\\\\r = 8.5 \%[/tex]

Thus, the sales tax rate for given conditions is 8.5%

Learn more about percentage here:

https://brainly.com/question/1579410

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