Question

What is the difference in sales tax if a product cost $500 is brought in a city with a 6.75% sales tax rate versus a city with a 7.25 sales tax rate

A. 0.25
B. 2.50
C. 25.00
D. 250.00

Answer 1

In order to find Sales Tax, you have to multiply the price of the product and the sales tax.
500*.0675=33.75
500*.0725=36.25
From here, you subtract the two sale taxes in order to find your answer.
36.25-33.75=2.5
So the answer to this problem is B. 2.50.

Answer 2

The difference isn $2.50. :)