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%.