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Unformatted text preview: s Dress Shop sold a gown for $150, thereby making a 25% profit. What was the cost of the gown to the dress shop? (A) $120 (B) $112.50 (C) $117.50 (D) $187.50 (E) $125 Radio House paid $60 for a tape player. At what price should it be offered for sale if the store offers customers a 10% discount but still wants to make a profit of 20% of the cost? (A) $64.80 (B) $72 (C) $79.20 (D) $80 (E) $84.20 3. www.petersons.com 94 Chapter 6 5. TAXES
Taxes are a percent of money spent, money earned, or value. Example: Broome County has a 4% sales tax on appliances. How much will Mrs. Steinberg have to pay for a new dryer marked at $240? Solution: Find 4% of $240 to figure the tax and add this amount to $240. This can be done in one step by finding 104% of $240. 240 × 1.04 960 24000 $249.60 Example: The Social Security tax is 7 %. How much must Mrs. Grossman pay in a year if her salary is 4 $2000 per month? Solution: Her annual salary is 12(2000) or $24,000. Find 7 % of $24,000. 24,000 × .0725 12 0000 48 0000 1680 0000 $1740.0000
1 4 1 www.petersons.com Verbal Problems Involving Percent 95 Exercise 5
Work out each problem. Circle the letter that appears before your answer. 1. In Manorville, the current rate for school taxes is 7.5% of property value. Find the tax on a house assessed at $20,000. (A) $150 (B) $1500 (C) $15,000 (D) $1250 (E) $105 The income tax in a certain state is figured at 2% of the first $1000, 3% of the next $2000, 4% of the next $3000, and 5% thereafter. Find the tax on an income of $25,000. (A) $1150 (B) $1015 (C) $295 (D) $280 (E) $187 The sales tax in Nassau County is 7%. If Mrs. Gutman paid a total of $53.50 for new curtains, what was the marked price of the curtains? (A) $49.75 (B) $49 (C) $57.25 (D) $50 (E) $45.86 4. Eric pays r% tax on an article marked at s dollars. How many dollars tax does he pay? (A) (B) (C) (D) (E) 5.
s 100r rs
100 s r 2. 100rs
rs 100 3. The sales tax on luxury items is 8%. If Mrs. Behr purchases a mink coat marked at $4000, what w...
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This note was uploaded on 08/15/2010 for the course MATH a4d4 taught by Professor Colon during the Spring '10 term at EmbryRiddle FL/AZ.
 Spring '10
 Colon
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