Which gives you the best estimate of the tax paid on a table that costs 95.68 costs with a tax rate of 8.25%?

1 Answer
Apr 23, 2017

Answer:

See the entire solution process below:

Explanation:

We can rewrite this problem as: What is 8.25% of $95.68?

"Percent" or "%" means "out of 100" or "per 100", Therefore 8.25% can be written as #8.25/100#.

When dealing with percents the word "of" means "times" or "to multiply".

Finally, lets call the tax we are looking for "t".

Putting this altogether we can write this equation and solve for #t# while keeping the equation balanced:

#t = 8.25/100 xx $95.68#

#t = ($789.36)/100#

#t = $7.89# rounded to the nearest penny.