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A student spends $51.93 including tax for an item marked $48.99. what is the percent increase

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pingwin09

Sales tax will result an increased priced. Since the increased rate is (1 + x) where x = discount rate. We equate:
$48.99 (1 + x) = $51.93
Solve for x:
1 + x = $51.93/$48.99
x = ($51.93/$48.99) - 1 
x = 0.06 or 6%

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