Question

Calculate final price on a $58.00 pair of shorts sold in BC. PST is 7% and GST is 5%.

can you teach me how to solve it?​

Answer 1

Explanation:

The final price would be calculated as follows:

- First, calculate the total tax rate by adding the PST and GST: 7% + 5% = 12%

- Next, calculate the amount of tax to be paid on the shorts by multiplying the original price by the tax rate: $58.00 x 12% = $6.96

- Finally, add the tax amount to the original price to get the final price: $58.00 + $6.96 = $64.96

Therefore, the final price for a $58.00 pair of shorts sold in BC with 7% PST and 5% GST would be $64.96.

Answer 2

Sure, I can walk you through the steps to calculate the final price with tax on those shorts.

Here are the steps:

1. The original price of the shorts is $58.

2. BC charges Provincial Sales Tax (PST) at a rate of 7%. 7% of $58 is $4.06.

3. The PST amount is $4.06

4. The price after PST is $58 + $4.06 = $62.06

5. You also need to add Federal Goods and Services Tax (GST) of 5%. 5% of $62.06 is $3.10.

6. The final price with GST added is $62.06 + $3.10 = $65.16

So the final price of the $58 shorts with 7% PST and 5% GST in BC will be $65.16

Let me know if you have any other questions! I'm happy to help explain the steps.