The sales tax is ​$44.94 on the purchase of a dining room set for ​$749. Find the sales tax rate.

Answer 1

To find the sales tax rate, you can use the formula:

$$\text{Sales Tax Rate}=\frac{\text{Sales Tax}}{\text{Purchase Price}}\times 100$$

In this case, the sales tax is $44.94 and the purchase price is $749. Plugging the values into the formula:

$$\text{Sales Tax Rate}=\frac{44.94}{749}\times 100$$

Calculating the division:

$$\frac{44.94}{749}\approx 0.05994$$

Now, multiply by 100 to convert it into a percentage:

$$0.05994\times 100\approx 5.994$$

So, the sales tax rate is approximately 6.00%.