Answer:
Sales tax is a tax levied by the government on the sale of goods and services. It is usually calculated as a percentage of the sale price and added to the total cost of the transaction. The tax revenue generated from sales tax is often used to fund public services such as schools, roads, and public safety.
To calculate the amount of taxes you would pay on a $15.00 meal with a 7% sales tax, you would follow these steps:
Step 1: Convert the percentage tax rate to a decimal by dividing it by 100. In this case, 7% divided by 100 equals 0.07.
Step 2: Calculate the amount of taxes by multiplying the price of the meal by the tax rate in decimal form. In this case, $15.00 multiplied by 0.07 equals $1.05.
Step 3: Add the amount of taxes to the original price of the meal to find the total cost. In this case, $15.00 plus $1.05 equals $16.05.
Therefore, if you buy a meal from a restaurant that costs $15.00, and the tax is 7%, you would pay $1.05 in taxes, and the total cost of the meal would be $16.05.