I need to know what 1/20 of 2, 15, 30, and 40 are. It has to do with money and finding points on a graph. Thanks

Question

The price of an item with tax is equal to the price of the item plus 1/20 of the price. Write a rule for the price with tax. Write ordered pairs for the price with tax of items that cost $2, $15, $30, and $40.

Answer 1

The tax rate 1/20 is also known as 5%. The total price, including tax, is therefore 1.05 times the listed price.

Answer 2

Your ordered pairs would be:

(cost of item, cost of item plus tax)

 

(1/20) $2 = 2/20 = 1/10 = 10 cents

 

(1/20) $15 = 15/20 = 3/4 = $.75

 

(1/20) $30 = 30/20 = 3/2 = $1.50

 

(1/20) $40 = 40/20 = $2

 

Your ordered pairs would be: 

 

($2, $2.10), ($15, $15.75), ($30, $31.50), ($40, $42)