Question

Rocky purchased a guitar and Guitar Mart that was originally priced at $145.00. After tax, the final cost was $152.25. What was the percent of tax?

Answer 1

Given:

Original price = $145.00

Final cost = $152.25

To find:

The percent of tax.

Solution:

The formula for tax is:

Tax = Final cost - Original price

`\text{Tax}=\$152.25-\$145.00`

`\text{Tax}=\$7.25`

Formula for tax percentage is:

`\text{Tax percent}=\frac{\text{Tax}}{\text{Original price}}* 100`

`\text{Tax percent}=(7.25)/(145.00)* 100`

`\text{Tax percent}=(725.00)/(145.00)`

`\text{Tax percent}=5`

Therefore, the percent of tax is 5%.