Question

Nash bought a new car for $32,345. He was surprised that the dealer then added $2,458.22 as a sales tax. What was the sales tax rate for this purchase

Answer 1

To find the sales tax rate for this purchase, we can divide the sales tax amount by the original cost of the car:

sales tax rate = sales tax amount / original cost of car

In this case, the sales tax amount is $2,458.22 and the original cost of the car is $32,345. Therefore, we can calculate the sales tax rate as:

sales tax rate = $2,458.22 / $32,345 ≈ 0.076 or 7.6%

Therefore, the sales tax rate for this purchase was approximately 7.6%.