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If the sales tax on an appliance priced at $300 is between 5 percent

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If the sales tax on an appliance priced at $300 is between 5 percent  [#permalink]

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New post 23 Aug 2018, 04:52
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A
B
C
D
E

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Question Stats:

94% (00:54) correct 6% (01:24) wrong based on 41 sessions

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Re: If the sales tax on an appliance priced at $300 is between 5 percent  [#permalink]

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New post 23 Aug 2018, 05:14
Bunuel wrote:
If the sales tax on an appliance priced at $300 is between 5 percent and 8 percent, then the cost (price plus sales tax) of the appliance could be


(A) $310

(B) $312

(C) $314

(D) $318

(E) $325


minimum value = 300 + .05 * 300 = 315
maximum value = 300 + 0.08 * 300 = 324
318 it is !!
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Re: If the sales tax on an appliance priced at $300 is between 5 percent  [#permalink]

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New post 23 Aug 2018, 05:19
Bunuel wrote:
If the sales tax on an appliance priced at $300 is between 5 percent and 8 percent, then the cost (price plus sales tax) of the appliance could be


(A) $310

(B) $312

(C) $314

(D) $318

(E) $325


\(300(1+\frac{5}{100})<Cost < 300(1+\frac{8}{100})\)
=\(300*1.05 < Cost < 300*1.08\)
=315 < Cost < 324

Among the answer options option(D) $318 fits the above inequality.

Ans. (D)
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Re: If the sales tax on an appliance priced at $300 is between 5 percent  [#permalink]

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New post 23 Aug 2018, 06:42
Bunuel wrote:
If the sales tax on an appliance priced at $300 is between 5 percent and 8 percent, then the cost (price plus sales tax) of the appliance could be


(A) $310

(B) $312

(C) $314

(D) $318

(E) $325


\(\frac{105}{100}*300 <\) Sales Price (Including Tax) \(< \frac{108}{100}*300\)

So, \(315 <\) Sales Price (Including Tax) \(< 324\) , Thus Answer must be (D) which falls within the given range.
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If the sales tax on an appliance priced at $300 is between 5 percent  [#permalink]

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New post 23 Aug 2018, 11:48
Bunuel wrote:
If the sales tax on an appliance priced at $300 is between 5 percent and 8 percent, then the cost (price plus sales tax) of the appliance could be


(A) $310

(B) $312

(C) $314

(D) $318

(E) $325



Tax range is given. So we can find out the cost price range which can be reckoned as follows :

Lowest cost :

Tax : 300 * 5% = 15

Total cost : 300 + 15 = 315

Highest Cost:

Tax : 300 * 8% = 24

Total cost: 300 + 24 = 324.

Price Range : 315 to 324.

Option D, 318, is our answer.
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Re: If the sales tax on an appliance priced at $300 is between 5 percent  [#permalink]

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New post 24 Aug 2018, 14:52
Bunuel wrote:
If the sales tax on an appliance priced at $300 is between 5 percent and 8 percent, then the cost (price plus sales tax) of the appliance could be


(A) $310

(B) $312

(C) $314

(D) $318

(E) $325


I would use minimal calculation

10% of 300 = 30.........5% of 300 =15...........Eliminate A,B &C

1% of 300 = 3......8% =24........Eliminate E

Answer: D
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Re: If the sales tax on an appliance priced at $300 is between 5 percent  [#permalink]

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New post 26 Aug 2018, 19:24
Bunuel wrote:
If the sales tax on an appliance priced at $300 is between 5 percent and 8 percent, then the cost (price plus sales tax) of the appliance could be


(A) $310

(B) $312

(C) $314

(D) $318

(E) $325


The least total cost is 1.05 x 300 = 315.

The greatest total cost is 1.08 x 300 = 324.

So the total cost could be 318.

Answer: D
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Re: If the sales tax on an appliance priced at $300 is between 5 percent   [#permalink] 26 Aug 2018, 19:24
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