Question

A soccer ball has a wholesale price of $14 and is marked up 115% before it is sold. If Joe purchases the soccer ball with a 5.5% sales tax, how much will he pay in total?

Answer 1

22.47

Explanation:

155%+5.5%=160.5%

14x160.5%=22.47 is the total payment.

Answer 2

$31.76

Explanation:

Original (wholesale) price: $14

Markup: (1.15)($14) = $16.10

Marked up price: (1.00 + 1.15)($14) = (2.15)($14) = $30.10

Total price (including tax): (1.055)($30.10) = $31.76