Question

A t-shirt costs $16.50 with the total cost, including tax coming to $17.66. what was the tax rate? (% of change)

Answer 1

7.03%

17.66 (after tax) - 16.50 (original price)= 1.16 (tax amount)

1.16 is 7.03% of the original price


you can check by multiplying 16.5*1.0703 to see the effect of tax and that 7.03% is the percent change