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Mr. Ruiz, the owner of a canoe shop buys paddles for $25.00 each and sells them for 150% profit. A customer buys a paddle for $40.78, which includes the selling price and sales tax. What is the sales tax
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Mr. Ruiz, the owner of a canoe shop buys paddles for $25.00 each and sells them for 150% profit. A customer buys a paddle for $40.78, which includes the selling price and sales tax. What is the sales tax rate?

User SWL
by
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1 Answer

10 votes
8.75%

25x1.5=37.5

40.78/37.5= 1.0875
Subtract the 1 off for the product cost and it leaves 0.0875 for the tax
User Belogix
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