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Question

Part 1
The sales tax is ​$55.74 on the purchase of a dining room set for ​$929. Find the sales tax rate.

Answer 1

To find the sales tax rate, we divide the sales tax amount by the purchase amount and then multiply by 100 to convert it to a percentage.

Sales tax rate = (sales tax amount / purchase amount) x 100

Given:
Sales tax amount = $55.74
Purchase amount = $929

Sales tax rate = (55.74 / 929) x 100
Sales tax rate = 0.0599781305 x 100
Sales tax rate = 5.99781305

Therefore, the sales tax rate is approximately 5.9978%.