Question

A jeweler buys a ring from a jewelry maker for 125$. He marks up the price by 135% for sale in his store. What is the selling price of the ring with a 7.5% tax?

Answer 1

Total cost of the ring is $180.23

Explanation:

Marks up price: MP=125⋅
`(135)/(100)`=$168.75

Sales Tax : ST=168.75⋅
`(6.8)/(100)`=11.475=$11.48

Total cost (MP+ST) : TC=168.75⋅+11.48=$180.23