Calculate sales tax using the following information:

Question

Taxable amount of the sale: $142

Sales tax percentage: 7%

What is the amount of the sales tax?
$8.12
$8.13
$7.80
$9.94

Round the answer to the nearest cent (hundredths).

Answer 1

To calculate the sales tax, you can use the following formula:

\[ \text{Sales Tax} = \text{Taxable Amount} \times \left(\frac{\text{Sales Tax Percentage}}{100}\right) \]

Given that the taxable amount is $142 and the sales tax percentage is 7%, the calculation would be:

\[ \text{Sales Tax} = 142 \times \left(\frac{7}{100}\right) \]

Calculating it step by step:

1. Convert the percentage to decimal: \[ \frac{7}{100} = 0.07 \]

2. Multiply: \[ \text{Sales Tax} = 142 \times 0.07 = 9.94 \]

Thus, the amount of the sales tax is $9.94.