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Question
while shopping in georgetown, ruben bought a wooden bench that was marked down 80% from an original price of $66.72. if the sales tax in georgetown is 5%, what was the total cost of the wooden bench?
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Step1: Calculate the sale price after markdown
The markdown is 80%, so the remaining percentage of the original price is \(100\% - 80\% = 20\% = 0.2\).
The sale price before tax is \(66.72\times0.2\).
\(66.72\times0.2 = 13.344\)
Step2: Calculate the sales tax amount
The sales tax rate is 5% = 0.05. The tax amount is the sale price before tax times the tax rate, so \(13.344\times0.05\).
\(13.344\times0.05 = 0.6672\)
Step3: Calculate the total cost
The total cost is the sale price before tax plus the tax amount, so \(13.344 + 0.6672\).
\(13.344 + 0.6672 = 14.0112\)
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\(14.01\) (Note: In real - world currency, we usually round to the nearest cent, so \(\$14.01\))