a jewelry store bought a gold necklace and marked it up 110% from the original cost of $23.52. later on…

a jewelry store bought a gold necklace and marked it up 110% from the original cost of $23.52. later on, dean purchased the gold necklace and paid 14.75% sales tax. how much, including tax, did he pay for the gold necklace?

a jewelry store bought a gold necklace and marked it up 110% from the original cost of $23.52. later on, dean purchased the gold necklace and paid 14.75% sales tax. how much, including tax, did he pay for the gold necklace?

Answer

Explanation:

Step1: Calculate the marked - up price

The original cost is $23.52. The markup is 110% of the original cost. First, find the markup amount. The markup amount is $23.52\times1.1 = 25.872$. Then the marked - up price is the original cost plus the markup amount, so $23.52+25.872=49.392$.

Step2: Calculate the price including tax

The sales tax is 14.75% of the marked - up price. The tax amount is $49.392\times0.1475 = 7.28532$. The price including tax is the marked - up price plus the tax amount, so $49.392 + 7.28532=56.67732\approx56.68$.

Answer:

$56.68$