Question

Please help A sweater at Target costs

$28. After tax the sweater
is $30.24. What is the sales
tax rate?

Answer 1

8%

Explanation:

cost = price × (1 + tax rate)

30.24 = 28 × (1 + r)

30.24 = 28 + 28r

2.24 = 28r

r = 2.24/28

r = 0.08

r = 8%

Answer: 8%