Items in a department store or any other store usually
display the price of an item. Customers take such an item to the cashier
who rings it, applies the tax rate and present the total price to the
customer.
The marked price, the price presented on an item, is
in currency value. It this example, it would be $120.95
The tax rate is expressed as a percentage value. An
example would be 5.75%
The computer used to evaluate the price use a formula
such as:
Tax Amount = Marked Price / Tax Rate
The net price, the actual price a customer should pay,
is calculated as:
Net Price = Marked Price + Tax Amount
In this exercise, we will simulate such a calculation |