Juan’s purchase before sales tax was added totaled $46.00. the total including tax was $48.76. what was the sales tax rate?
Answer:
6%
Step-by-step explanation:
Sales tax is the tax added to the cost of item being purchased by a consumer. It is also know as tax on consumption and is a percentage of the cost of the commodity being purchased.
Purchase before sales tax = $46.00
Purchased price after tax addition = $48.76
Therefore tax added = $48.76 - $46.00
= $2.76
Tax rate applied = $2.76/$46.00
= 0.06 or 6%
sales tax rate = 6%