Question

The sales tax for an item was $24.50 and it cost $490 before tax.

Find the sales tax rate.

Answer 1

To find the sales tax rate, divide the amount of sales tax by the cost before tax. In this case, the sales tax rate is 5%.

Step-by-step explanation:

To find the sales tax rate, we need to divide the amount of sales tax by the cost before tax. In this case, the sales tax is $24.50 and the cost before tax is $490. So, the sales tax rate is:

Sales Tax Rate = Amount of Sales Tax / Cost Before Tax

Sales Tax Rate = $24.50 / $490
Sales Tax Rate = 0.05

Therefore, the sales tax rate is 0.05 or 5%.