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13 Jun 2017, 06:07
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66% (02:57) correct
34%
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When purchasing a souvenir on holiday in another country for D dollars, Len has to pay a t percent sales tax. When bringing it back to his own country, he must pay an import tax of t/2 percent of the price he paid for the item, including sales tax. Including both taxes, what is the total amount that Len pays for the item?
A. \(D(1+0.015t+0.00005t^2)\)
B. \(D(1+0.015t+0.0005t^2)\)
C. \(D(1.2t^2)\)
D. \(D(1+0.15t+0.05t^2)\)
E. \(D(1.015t^2)\)
A. \(D(1+0.015t+0.00005t^2)\)
B. \(D(1+0.015t+0.0005t^2)\)
C. \(D(1.2t^2)\)
D. \(D(1+0.15t+0.05t^2)\)
E. \(D(1.015t^2)\)
13 Jun 2017, 06:24
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Assume values of souvenir D=100$, the sales tax(t) = 10%
Amount paid after tax = 100+10 = 110$
Hence, import tax he pays is t/2 percent of total amount paid after tax(which is 5%) = \(\frac{5}{100} * 110\) = 5.5$
Total amount he pays to bring the souvenir to his country(inclusive of import duty is 115.5$
Option A(\(D(1+0.015t+0.00005t^2)\)) will give you the same value approximately when you substitute t = 10.
Amount paid after tax = 100+10 = 110$
Hence, import tax he pays is t/2 percent of total amount paid after tax(which is 5%) = \(\frac{5}{100} * 110\) = 5.5$
Total amount he pays to bring the souvenir to his country(inclusive of import duty is 115.5$
Option A(\(D(1+0.015t+0.00005t^2)\)) will give you the same value approximately when you substitute t = 10.
sonikavadhera
13 Jun 2017, 06:38
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D dollars is price
Sales tax price : Dt/100
Import price: t/200 (D+Dt/100)
Total: D + Dt/100 + (t/200(D +Dt/100))
or D (1 + 0.015t + 0.00005t^2)
Option A
Sales tax price : Dt/100
Import price: t/200 (D+Dt/100)
Total: D + Dt/100 + (t/200(D +Dt/100))
or D (1 + 0.015t + 0.00005t^2)
Option A
