Showing posts with label Finance. Show all posts
Showing posts with label Finance. Show all posts

Tuesday, March 31, 2009

Word Problem on Sales and Tax Rate Applied.

Topic : Sales and Tax Applied.

Question : The Sales TAX on $105 digital camera is $7.15 what is the sales tax rate.

Solution :
Let the sales tax rate be x%
Therefore according to given problem, we get
x% of 105 = 7.15
x/100 * 105 = 7.15
x = 7.15 *100 /105
x = 715/105 = 6.80 approximately 6.8%

Hence sales tax on $105 digital camera is 6.8% which amounts to $7.15