Osceola county bonds worth $1,000 are selling at 88.391. What is the market price of one such bond?

Solution:

We calculate tax on the marked price when the seller sells an item at the marked price without any discount.

In that case, the marked price and the selling price are the same. Thus, tax is calculated on the marked price.

It is given that

Worth of the bond = $1000

Selling price = $88.391

Market price of the bond = selling price × worth of the bond/100

Market price = 1000 × 88.391/100

= $883.91

Therefore, the market price of one such bond is $883.91.

Osceola county bonds worth $1,000 are selling at 88.391. What is the market price of one such bond?

Summary:

Osceola county bonds worth $1,000 are selling at 88.391. The market price of one such bond is $883.91.