Luis wants to buy a skateboard that usually sells for $79.57. all merchandise is discounted by 12%. what is the total cost of the skateboard if luis has to pay a state sales tax of 7.75%. round your intermediate calculations and answer to the nearest cent.

79.57 times 12% = 70.02
70.02 times 7.75% = 5.43
70.02 plus 5.43 = 75.43

How do you take a percentage off a price?

Procedure:
Get the original price: 79.57
The rate is usually given as a percent: 12%
To find the discount, multiply the rate by the original price: (79.57 x 12) / 100 = 9.54
To find the sale price, subtract the discount from original price: 79.57 - 9.54 = 70.03

Now add the tax of 7.75% on the sales price, 

Tax on sales price = (70.03 x 7.75) / 100 = 5.42
Total cost of item = 70.03 + 5.42 = 75.45.