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Rounding to 0.05 taxes what am I doing wrong?

I’m super stuck on this problem and I don’t know where the math is going wrong. here goes..

Calculate the tax on these 2 products. tax should be rounded to the nearest 0.05.

product_ONE price = $47.50 with a tax of 15%—answer should be $54.65;
47.50 * 15 / 100 = 7.125
7.125 / 0.05 = 142.5 -> rounded you get 143
143 * 0.05 = 7.15 tax
$47.50 + $7.15 = $54.65 -> great I got what I should;

product_TWO price = $11.25 with a tax of 5% —answer should be $11.85;
11.25 * 5 / 100 = 0.5625
0.5625 / 0.05 = 11.25 -> rounded you get 11
11 * 0.05 = 0.55 tax;
$11.25 + $0.55 = $11.80 -> but the answer should be 11.85…how???

if you are going to say you should round 0.55 to 0.6 then why not round 7.15 to 7.2 ??? and then product_ONE answer wont match…

can someone explain please if its my math or if I’ve been given the wrong answers? thanks

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Answer

The second example seems to imply that, against the task description. If it is correct and complete, in the line

0.5625 / 0.05 = 11.25 

you get to round up to 12, not to nearest integer (paying too much tax is preferable to evading tax).

Then

12*0.05 = 0.60

and the result is as desired.


Of course, if “rounding to nearest” is the task description, then your result in the second case is the correct one.

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