The dealer in midtown said, "Our price is $8,195 and midtown sales tax is 5%

Discount and tax rates
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if tax is included in the price, then the net price is = selling price - selling price * 0.05

that is net price = 8195 - 8195 * 0.05 = 8195 - 409.75 = 7,785.25 so selling price = 8195 and taxes=409.75
included in the selling price.

Now if tax is not included in selling price it will be 8195 + 8195 * 0.05 = 8195 + 409.75 = 8604.75

so selling price is 8195 + 409.75 = 8604.75
by Level 5 User (13.1k points)
edited by

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