The sales tax is ​$53.70 on the purchase of a dining room set for ​$895. Find the sales tax rate.

Answer 1

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

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

In this case, the sales tax is $53.70 and the purchase price is $895. Plugging in these values:

\[ \text{Sales Tax Rate} = \left( \frac{53.70}{895} \right) \times 100 \]

Now, calculate \( \frac{53.70}{895} \):

\[ \frac{53.70}{895} \approx 0.05994 \]

Now, multiply by 100 to get the percentage:

\[ \text{Sales Tax Rate} \approx 0.05994 \times 100 \approx 5.994% \]

Therefore, the sales tax rate is approximately 6.00%.