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The retail price of a new iPhone is $850. Jailyn purchased the phone for $896.75. What was the tax rate as a percentage?

The retail price of a new iPhone is $850. Jailyn purchased the phone for $896.75. What was the tax rate as a percentage?
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The retail price of a new iPhone is $850. Jailyn purchased the phone for $896.75. What was the tax rate as a percentage?

User PierreN
by
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1 Answer

5 votes
The tax rate is 5.5%
Explanation
$(896.75-850) = 46.75
(46.75/850) x 100 = 5.5%
Hope that helps :)
User Hnh
by
8.3k points
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