Question

While looking at some reports, a store manager notes that televisions that retail for $475 and up costing customers $513 once the sales tax is ended, what is the sales tax percentage?

Answer 1

The sales tax percentage of the store manager report is 7.41%

How to solve for the sales tax percentage

Customers are subject to a charge known as sales tax when they buy goods and services.

It is a pass-through tax, which means you must collect it from clients and send the money to your state or local government. the seller do not contribute sales tax.

The sales tax is first calculated by

= price after tax - price before tax

= 513 - 475

= 38

sales tax percentage is calculated using the formula

= (Tax amount / Price before tax) × 100%

= (38 / 513) * 100

= 7.4074

= 7.41%

Learn more about sales tax at:

brainly.com/question/20220356

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