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Difficulty:
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Question Stats:
96% (01:29) correct
4%
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based on 70
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In country X a returning tourist must pay 8 percent tax applied to the first $500 or less worth of imported goods. If the total value is in excess of $500 he must pay an additional 15 percent tax on the portion of the total value in excess of 500. What tax must be paid by a returning tourist who imports good with a total value of $720?
A. $33
B. $70
C. $73
D. $92.60
E. $108
A. $33
B. $70
C. $73
D. $92.60
E. $108
sashiim20
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14 Jun 2017, 03:15
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Bunuel
In country X a returning tourist must pay 8 percent tax applied to the first $500 or less worth of imported goods. If the total value is in excess of $500 he must pay an additional 15 percent tax on the portion of the total value in excess of 500. What tax must be paid by a returning tourist who imports good with a total value of $720?
A. $33
B. $70
C. $73
D. $92.60
E. $108
A. $33
B. $70
C. $73
D. $92.60
E. $108
$720 = $500 + $220
8% of tax on $500 = \(\frac{8}{100} * 500\) = $40
15% of tax on $220 = \(\frac{15}{100} * 220\) = $33
Total tax payable = 40 + 33 = $73. Answer C...
14 Jun 2017, 03:26
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Bunuel
In country X a returning tourist must pay 8 percent tax applied to the first $500 or less worth of imported goods. If the total value is in excess of $500 he must pay an additional 15 percent tax on the portion of the total value in excess of 500. What tax must be paid by a returning tourist who imports good with a total value of $720?
A. $33
B. $70
C. $73
D. $92.60
E. $108
A. $33
B. $70
C. $73
D. $92.60
E. $108
I am getting 90.6(instead of 92.6)
15% additional tax on the portion over 500 is 220 is 33.
and 8% overall for the total value of 720 is 57.6
Summed up, they are giving 90.6$.
