Question

The sales tax on a 30,000 purchese was $2.40. What was the sales tax rate for this purchese?

Answer 1

Let's call the sales tax rate "r".

The sales tax on a $30,000 purchase was $2.40, so we can set up an equation:

$30,000 * r = $2.40

To find the sales tax rate, we can divide both sides of the equation by $30,000:

r = $2.40 / $30,000 = 0.008

So, the sales tax rate for this purchase was 0.008, or 0.8%.