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

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If the sales tax on an appliance priced at $300 is [#permalink] New post 22 Aug 2018, 09:28
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Question Stats:

69% (00:44) correct 30% (00:57) wrong based on 71 sessions
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) \($325\)
[Reveal] Spoiler: OA

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Re: If the sales tax on an appliance priced at $300 is [#permalink] New post 23 Aug 2018, 07:06
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Carcass 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) \($325\)


Let's examine the two EXTREME tax rates.

MINIMUM TAX RATE
If the sales tax were 5%, the the retail price would = $300 + 5% of $300
= $300 + $15
= $315

MAXIMUM TAX RATE
If the sales tax were 8%, the the retail price would = $300 + 8% of $300
= $300 + $24
= $324

So, the retail price must be BETWEEN $315 and $324

Check the answer choices....only one answer choice meets this condition

Answer: D

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Re: If the sales tax on an appliance priced at $300 is   [#permalink] 23 Aug 2018, 07:06
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