Research FLT_EVAL_METHOD.  This reports the intermediate floating-point math allowed.
printf("%d\n", FLT_EVAL_METHOD);
When this is non-zero, the 2 codes may have different output as printf("%f", (far-32)*5/9); can print the result of (far-32)*5/9 using double or float math.
In the 2nd case, (far-32)*5/9); is performed user float or double and then saved as a float and then printed.  Its promotion to a double as  part of a printf() ... argument does not affect the value.
For deeper understanding, print far, cel, (far-32)*5/9 with "%a" and "%.17g" for greater detail.
In both cases, far is the float value 0x1.8a6666p+6 or 98.599998474121094...
As I see it the first used double math in printf("%f", (far-32)*5/9); and the second used double math too, yet rounded to a float result from cel = (far-32)*5/9;.  To be certain we need to see the intermediate results as suggested above.
Avoid double constants with float objects.  It sometimes makes a difference.
// float far = 98.6;
float far = 98.6f;
Use double objects as a default.  Save float for select speed/space cases. @Some programmer dude.