Question

How much is the sales tax on $29.50 worth of goods if the tax rate is 7%?

$0.21
$0.42
$2.07
$4.21

Answer 1

$2.07

Explanation:

Answer 2

Third Option: $2.07

Explanation:

Sales tax is the tax that is applied on the sales of goods by the government paid by the public. Here,

Given

Amount = $29.50

And

Sales tax rate = 7%

The formula for calculation of tax is:

Sales tax = Amount * tax rate

= 29.50 * 7/100

= 29.50*0.07

= 2.065

Rounding off will give

$2.07

So third option is correct ..