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A government imposes a tax of $2 on a product that costs $10. What is the new pr

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Question: A government imposes a tax of $2 on a product that costs $10. What is the new price of the product?

Options:

  1. $10
  2. $12
  3. $14
  4. $8

Correct Answer: $12

Solution: 

New price = Original price + Tax = 10 + 2 = $12

A government imposes a tax of $2 on a product that costs $10. What is the new pr

Practice Questions

Q1
A government imposes a tax of $2 on a product that costs $10. What is the new price of the product?
  1. $10
  2. $12
  3. $14
  4. $8

Questions & Step-by-Step Solutions

A government imposes a tax of $2 on a product that costs $10. What is the new price of the product?
  • Step 1: Identify the original price of the product, which is $10.
  • Step 2: Identify the amount of tax imposed on the product, which is $2.
  • Step 3: Add the tax to the original price: $10 (original price) + $2 (tax).
  • Step 4: Calculate the total: $10 + $2 = $12.
  • Step 5: The new price of the product is $12.
  • Tax Calculation – Understanding how to add a tax to the original price of a product.
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