If the total expenditures of a typical family equaled $35,000 per year in 2000 and the exact same basket of goods and services cost $40,000 in the year 2005, the family's cost of living is

The correct answer is "The family cost of living has increased by 14.28%"

Explanation:

If the total expenditures of a typical family equaled $35,000 per year in 2000

$35,000 2000

And the exact same basket of goods and services cost $40,000 in the year 2005.

$40,000 - $35,000 = $5,000 (Diference or increasement beetween the year 2000 and 2005)

Rule of three

$35,000 100%

$5,000?

(5000 x 100) ÷ 35,000= 14,28%

The family cost of living has increased by 14.28% in the last five years.

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"we first find value of tax in dollars.

the difference between the two prices   is: 23. 54 - 22 = 1.54

therefore the sales tax in dollars is 1.54

the tax % will be   (amount of tax / original cost price ) × 100

(1.54 / 22) × 100  → (0.07) × 100 =   7

so the tax rate is 7%

we can double check the answer.

7 % of 22   → (7/100) × 22 → 0.07 × 22 = 1.54

22 + 1.54 = 23.54"