Question

A shirt selling for $25 after tax, you paid $28.14 what is the tax rate?

Answer 1

To find the tax rate, subtract the price you paid from the original price of the shirt. Divide the sales tax amount by the original price to calculate the tax rate. The tax rate in this case is approximately 47.182%.

Step-by-step explanation:

To find the tax rate, we need to determine the sales tax amount and divide it by the original price of the shirt. Let's say the original price of the shirt is 'x'. The sales tax amount can be calculated by subtracting the price you paid from the original price:

Sales Tax Amount = x - 28.14

Since the selling price after tax is $25, we can write the equation:

25 = x - 28.14

Solving for 'x', we get:

x = 53.14

Now, let's calculate the tax rate:

Tax Rate = Sales Tax Amount / Original Price

Tax Rate = (53.14 - 28.14) / 53.14

Tax Rate ≈ 0.47182

To express the tax rate as a percentage, we can multiply it by 100:

Tax Rate = 0.47182 * 100

Tax Rate ≈ 47.182%