Question

Find the amount of tax and the tax rate. Round to two decimal places.

Cost of item: $71

Selling price: $86.45

Tax amount: $

Tax rate: %

Answer 1

well, the tax amount is simple, it was $71 and it went up to $86.45, that's a 15.45 difference, so that IS the tax amount.

now, if we take 71(origin amount) to be the 100%, what's 15.45 off of it in percentage?

`\begin{array}{ccll} amount&\%\\ \cline{1-2} 71 & 100\\ 15.45& x \end{array} \implies \cfrac{71}{15.45}~~=~~\cfrac{100}{x} \\\\\\ 71x=1545\implies x=\cfrac{1545}{71}\implies x\approx 21.76`