Find the sales tax. Then find the total cost of the item.

Sales Tax
nbsp Selling Price nbsp
nbsp Rate of Sales Tax nbsp
nbsp Sales Tax nbsp
​$60.00
7​%
​?
Question content area bottom
Part 1
The sales tax is ​$
  
enter your response here.

1 answer

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

\[ \text{Sales Tax} = \text{Selling Price} \times \left( \frac{\text{Rate of Sales Tax}}{100} \right) \]

Given:

  • Selling Price = $60.00
  • Rate of Sales Tax = 7%

Now, plug in the values:

\[ \text{Sales Tax} = 60.00 \times \left( \frac{7}{100} \right) \]

\[ \text{Sales Tax} = 60.00 \times 0.07 \]

\[ \text{Sales Tax} = 4.20 \]

So the sales tax is $4.20.

Next, to find the total cost of the item, you can use the following formula:

\[ \text{Total Cost} = \text{Selling Price} + \text{Sales Tax} \]

Now, calculate the total cost:

\[ \text{Total Cost} = 60.00 + 4.20 = 64.20 \]

Summary:

  • Sales Tax: $4.20
  • Total Cost: $64.20