Question

A monitor costs $115.00The sales tax is $8.05What was the sales tax rate?

Answer 1

Given:

Cost of computer=$115.00

Sales tax=$8.05

The objective is to find the sales tax rate.

The formula for sales tax rate is,

`\begin{gathered} \text{Sales tax=Item cost}* Sales\text{ tax rate} \\ Sales\text{ tax rate}=\frac{Sales\text{ tax}}{Item\text{ cost}} \\ Sales\text{ tax rate}=(8.05)/(115) \\ Sales\text{ tax rate}=0.07 \\ Sales\text{ tax rate}=7\text{ percentage.} \end{gathered}`