Question

a picnic basket was marked up 95% from an original cost of $9.57. last friday, rosanne bought the picnic basket and paid an additional 8% in sales tax. what was her total cost? $

Explanation:

Step1: Calculate the marked - up price

The formula for marked - up price is \( \text{Marked - up price}=\text{Original cost}\times(1 + \text{Mark - up percentage}) \).
The original cost is \( \$9.57 \) and the mark - up percentage is \( 95\%=0.95 \).
So, \( \text{Marked - up price}=9.57\times(1 + 0.95)=9.57\times1.95 \)
\( 9.57\times1.95 = 9.57\times(2 - 0.05)=9.57\times2-9.57\times0.05 = 19.14-0.4785=\$18.6615 \)

Step2: Calculate the total cost with sales tax

The formula for total cost with tax is \( \text{Total cost}=\text{Marked - up price}\times(1+\text{Tax percentage}) \)
The tax percentage is \( 8\% = 0.08 \) and the marked - up price is \( \$18.6615 \)
So, \( \text{Total cost}=18.6615\times(1 + 0.08)=18.6615\times1.08 \)
\( 18.6615\times1.08=18.6615+18.6615\times0.08=18.6615 + 1.49292=\$20.15442\approx\$20.15 \) (If we round to the nearest cent) or we can keep more decimal places. But let's do the calculation more accurately:
\( 18.6615\times1.08=(18 + 0.6615)\times1.08=18\times1.08+0.6615\times1.08=19.44+0.71442 = 20.15442\)

Answer:

\(\$20.15\) (or \(\$20.15442\) if we don't round)