Find the total amount, including tax, for an item with a price of $21.86 and a tax rate of $6 \frac { 1 } { 2 } \%$ .
A) $\$ 28.36$
B) $\$ 20.44$
C) $\$ 23.28$
D) $\$ 1.42$
E) $\$ 36.07$

Question

Quizplus · Accepted Answer

First, convert the tax rate to a decimal: $6\frac{1}{2}\% = 0.065$. 
Then, calculate the amount of tax: 
\begin{align*}
0.065 \times 21.86 &= 1.42
\end{align*} 
Add the tax to the original price to find the total amount: 
\begin{align*}
21.86 + 1.42 &= 23.28
\end{align*}
Therefore, the total amount including tax is $\$23.28$, which is answer choice C.

Find the Total Amount, Including Tax, for an Item with a Price