Question

Just ring purchased a watch with a retail price of 8000, she still has to pay a sales tax of 6% and an excise tax of 10%

Answer 1

To calculate the total cost of the watch with sales tax and excise tax, multiply the retail price by the respective tax rates and add them together.

Step-by-step explanation:

To calculate the total cost of the watch with sales tax and excise tax, first find the amount of sales tax by multiplying the retail price by the sales tax rate of 6%. Then, find the excise tax amount by multiplying the retail price by the excise tax rate of 10%. Finally, add the retail price, sales tax amount, and excise tax amount together to find the total cost of the watch.

Let's calculate:

The sales tax amount = $8000 * 0.06 = $480

The excise tax amount = $8000 * 0.10 = $800

The total cost of the watch = $8000 + $480 + $800 = $9280.