Question

An item sells for 40$. The sales tax on the item is 8% . What is the sales tax and total cost ?

Answer 1

sales tax = $3.20

total cost = $43.20

Explanation:

First we will find the sales tax

Sales tax = cost * tax rate

= 40 * .08

= 3.2

To find the total cost, we add the sales tax to the cost

total cost = cost + sales tax

= 40 + 3.2

43.20