Question

The sales tax is $43 on the purchase of a dining room set for $860. Find the sales tax rate. The sales tax rate is ...%

Answer 1

SOLUTION

Step1: Write out the giving parameters

$\begin{gathered} \text{sales tax=\ 43} \\ \text{Purchasing value=\ 860} \end{gathered}$

Step2: Write out the formula

$\text{sales tax rate =}\frac{sales\text{tax}}{purcha\sin g\text{ value}}\text{ }$

Step3: Substitute the parameter into the formula

$\text{sales tax rate=}\frac{43}{860}=\frac{1}{20}$

Then in percentage, the sales tax rate becomes

$\frac{1}{20}\times100=5\text{ \%}$

Therefore the sales tax rate is 5 %