Mr. Smith bought shoes for $ 120 and a suit for $ 340. Find the total cost including tax if the tax rate is 5.5%.
(a)$ 485.30 (b)$ 48.53 (c)$ 358.70
(d)$ 460 (e)$ 406
I cant figure out how to solve this problem but what i did was added the 120 and 340 and multiplied it by the tax rate and im not getting an answer shown for the choices so i am doing something wrong so can you lead me towards the right direction to get the right answer
120 + 340 = 460
460 * 1.055 = 485.30
Adding the items gives
$460
The tax on that at 5.5%
=0.055*$460
=?
Add the tax to the cost of the items.
That value is one of the choices given.
To find the total cost including tax, you need to add the prices of the shoes and the suit, and then calculate the tax for that total.
First, add the prices of the shoes and the suit:
$120 (shoes) + $340 (suit) = $460
Next, calculate the tax on this total amount. To find the tax, you need to multiply the total amount by the tax rate, which is 5.5% or 0.055 in decimal form.
Tax = $460 * 0.055 = $25.30 (rounded to the nearest cent)
Finally, add the tax to the total amount to get the final cost:
Total cost = $460 + $25.30 = $485.30
Therefore, the correct answer is (a) $485.30.