Answer:
The tax amount = $0.5592
The discount amount = $0.755
Step-by-step explanation:
Here, the Marked Price of the paper towels = $6.99
Now, the tax on the marked price = 8%
Calculating the tax amount on Marked price, we get:
8% of 7.99 = [tex]\frac{8}{100} \times 6.99 = 0.5592[/tex]
So, the tax amount = $0.5592
Now, the Selling Price = Marked Price+ Tax
= $6.99 + $ 0.5592 = $7.5492
⇒Selling Price = $7.5492
Calculating the discount amount on Selling price, we get:
10% of $7.5492 = [tex]\frac{10}{100} \times 7.5492 = 0.75492[/tex]
So, the discount amount on selling price = $0.755
