$85.99 with a 7.5% sales tax, what is the new price?

1 Answer
Jan 7, 2017

Answer:

The new price is $92.44

Explanation:

The formula for the Total Price is:

#N = p + t#

Where:

#N# is the new price or total price

#p# is the price = #85.99

#t# is the tax which we need to calculate.

We can write the question for what is the tax as:

What is 7.5% of $85.99?

"Percent" or "%" means "out of 100" or "per 100", Therefore 7.5% can be written as #7.5/100#.

When dealing with percents the word "of" means "times" or "to multiply".

Finally, we are looking for #t# or the tax.

Putting this altogether we can write this equation and solve for #t# while keeping the equation balanced:

#t = 7.5/100 xx $85.99#

#t = ($644.925)/100#

#t = $6.45# rounded to the nearest penny.

Now we can substitute this into the equation above and find the New Price:

#N = $85.99 + $6.45#

#N = $92.44#