Answer:
sales tax rate = 4%
Step-by-step explanation:
In this problem formula to express one term in percentage is used
To express x as percentage of y is given by (x/y*100) %
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Cost of item = $480
sales tax = $19.20
we have to find sales tax rate.
sales tax rate is percentage of cost price which will levied as tax .
thus, we have to find sales tax as percentage of cost price.
using the percentage cost as given above
sales tax as percentage = sales tax/ cost of item *100
sales tax as percentage = 19.20/480 *100 = 4%
Thus, sales tax rate is 4%.
It means that if cost price of item is $100 then $4 will be the sales tax for the item.
