The Sales Tax on an Item with a Retail Price

question 62

Multiple Choice

The sales tax on an item with a retail price of $972 is $77.76. Create a variational model that gives the retail price, y, in terms of the sales tax, x, and use it to determine the retail price of an item that has a sales tax of $92.34.

• A) $1156.24
• B) $1125.88
• C) $1154.25
• D) $1166.48
• E) $1098.56

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Definitions:

Existing Product

A product that has already been introduced to the market and is available for purchase.

New-product Development

The process of designing, creating, and bringing a new product to market to meet consumer demand or exploit a new opportunity.

Generate Sales

The act of creating revenue through the selling of goods or services to customers.

Defective

Refers to a flaw or imperfection in a product that impairs its usability for the purpose for which it was designed or manufactured.