Find the amount of tax and the tax rate. Round to nearest hundredth of a percent. Cost of item: $52 Selling price: $71.97

Jawahar asked Oct 28, 2022

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25 votes

Find the amount of tax and the tax rate. Round to nearest hundredth of a percent.

Cost of item: $52

Selling price: $71.97

Jawahar asked Oct 28, 2022

2.7k points

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20 votes

Answer:

Amount of Tax = $19.97

Tax Rate = 28%

Explanation:

Amount of Tax = $71.97 - $52 = $19.97

Tax Rate = 19.97/71.97 × 100

= 0.28 × 100 = 28%

Alexkovelsky answered Nov 3, 2022

3.1k points

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