4) Choose the best answer.
Who assisted General Washington in training the army at Valley Forge?
General John Burgoyne
General Barry St. Leger
General Baron von Steuben
General Benedict Arnold
3 answers
General Baron von Steuben
Mr. Akhter is a businessman. He has just opened a gift store in a busy city area. He purchases all the goods at a wholesale price, but he wants to make the retail price 16.5% higher than the wholesale price. He also has to account for 8.75% sales tax on the retail price before displaying the final price tag on the gift item. If Mr. Akhter sells a cute Barbie doll to a customer for $19.95, which of the following price could be wholesale price of Barbie doll?
(A) $9.13
(B) $10.35
(C) $14.25
(D) $15.75
(A) $9.13
(B) $10.35
(C) $14.25
(D) $15.75
To find the wholesale price of the Barbie doll, we need to work backwards.
First, we need to remove the sales tax of 8.75% from the retail price of $19.95.
$19.95 - (8.75% * $19.95) = $19.95 - $1.74 = $18.21
Now, we need to calculate what the wholesale price would be, which is 16.5% less than the retail price.
$18.21 / (1 + 16.5%) = $18.21 / 1.165 = $15.63
Among the answer choices, the closest value to $15.63 is (D) $15.75. Therefore, D is the best answer.
First, we need to remove the sales tax of 8.75% from the retail price of $19.95.
$19.95 - (8.75% * $19.95) = $19.95 - $1.74 = $18.21
Now, we need to calculate what the wholesale price would be, which is 16.5% less than the retail price.
$18.21 / (1 + 16.5%) = $18.21 / 1.165 = $15.63
Among the answer choices, the closest value to $15.63 is (D) $15.75. Therefore, D is the best answer.