SOLUTION: A merchant bought a boat for $8000 and marked it up 15.5%. What is the retail price? What would the buyer have to pay if there is a 5% sales tax?

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Question 1086379: A merchant bought a boat for $8000 and marked it up 15.5%. What is the retail price? What would the buyer have to pay if there is a 5% sales tax?
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
A merchant bought a boat for $8000 and marked it up 15.5%. What is the retail price? What would the buyer have to pay if there is a 5% sales tax?
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Ans:: 8000(1+0.155)(1+0.05) = 8000*1.155*1.05 = $9702.00
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Cheers,
Stan H.
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