Question

Perform the following computations. retail price of steel-belted radial tire = $89.50 discount offered = 10% federal tax = 12% local sales tax = 5% selling price = _____. 66.86 94.24 95.76 112.15

Answer 1

For the answer to the question above
Retail price of steel-belted radial tire = $89.50 
Discount offered = 10% = $8.95 
Value before federal tax = $89.50 - $8.95 = $80.55 
Federal tax = 12%=$80.55(0.12) =$9.67 
Local sales tax = 5% =$80.55(0.05)=$4.03 

Selling price = $80.55 +$9.67+$4.03 =$94.25
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