A carpenter purchases a hammer costing $8.03, a bag of nails costing $5.16, and a tape measure costing $2.81 with a twenty-dollar bill. How much change does the carpenter receive if a sales tax of 5 percent is charged on the entire purchase?
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A carpenter purchases a hammer for 8.03 dollars, a bag of nails for 5.16 dollars and a tape measure for 2.81 dollars with a 20 dollar bill. How much change does the carpenter receives if a sales tax of 5% is charged on the entire purchase?
Cost of hammer = $8.03
Cost of the bag of nails = $5.16
Cost of the tape measure = $2.81
So, total cost of the items
= sum of all costs
= 8.03 + 5.16 + 2.81 dollars
= 16 dollars
Now, sales tax charged
= 5% of total cost
= 5/100 × 16
= 16×5/100
= 80/100
= 0.08
So, total money to be paid
= total cost of items + sales tax
= $16 + $0.8
= $16.8
Now, money given by the carpenter = $20
So, money to be returned to him
= $20 - total money to be paid
= 20 dollar - 16.8 dollar
= $3.2
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Thank you..... ;-)
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