QuestionAn item costs \$ 480 before tax, with a sales tax of \$ 43.20. What is the sales tax rate in percentage?
Studdy Solution
STEP 1
Assumptions1. The cost of the item before tax is 43.203. The sales tax rate is calculated as a percentage of the cost of the item before tax
STEP 2
We can find the sales tax rate by dividing the sales tax by the cost of the item before tax and then multiplying by100 to convert it to a percentage.
STEP 3
Now, plug in the given values for the sales tax and the cost before tax to calculate the sales tax rate.
STEP 4
Perform the division to find the decimal value of the sales tax rate.
STEP 5
Finally, multiply the decimal value by100 to find the sales tax rate as a percentage.
The sales tax rate is9%.
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