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The student store sells pencils that have a markup of 120 percent above their wholesale cost of $0.50 each. They also charge sales tax of 8 percent. What is the total cost of a pencil from the student store?

Respuesta :

kaylynnbryner04
$1.19 is right also you probably needed this a week ago but here is the answer. 

Answer:

The total cost of a pencil from the student store is $ 1.188

Step-by-step explanation:

Given,

The original cost or wholesale cost of each pencil = $ 0.50,

Markup percentage = 120 %,

So, the cost of the pencil after markup = 0.50 + 120% of 0.50

[tex]=0.50+\frac{120\times 0.50}{100}[/tex]

[tex]=0.50+\frac{60}{100}[/tex]

[tex]=0.50+0.6[/tex]

[tex]=1.1[/tex]

Now, sales tax = 8 %,

Hence, the final total cost of a pencil = 1.1 + 8 % of 1.1

[tex]=1.1 + \frac{8\times 1.1}{100}[/tex]

[tex]=1.1+\frac{8.8}{100}[/tex]

[tex]=1.1+0.088[/tex]

[tex]=\$1.188[/tex]

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