Question

A new plasma-screen television has a purchase price of $5420. If the sales tax on this purchase is $487.80, how do you find the sales tax rate?

Answer 1

The tax rate is `9%`.

Explanation:

The sales tax rate, `r`, is determined by dividing the sales tax by the purchase price and multiplying by `100`.

`r=($487.80)/($5420.00)xx100=9%`