Question

Karen paid $43.70 for a book. The price of the book was $40. What was the sales tax rate?

Answer 1

The sales tax rate is found dividing the sales tax by the sales price and multiplying by 100. Here you must find the sales tax first. Sales tax = value paid - price of the book = $43.70 - $ 40 = $ 3.70. Now divide $3.70 by $40 and multiply times 100 = (3.70 / 40) * 100 = 9.25%.