Question

An online retailer collects 7% sales tax. If the sub total of the purchase is $76.00, then how much is collected for sales tax?​

Answer 1

The collected tax on purchase of $76.00 is $5.32

Further explanation:

The sales tax is calculated on the total sales by the formula

$Tax = total * \frac{7}{100}$

Given

Total purchase = $76.00

Percentage of tax = 7%

So,

Putting the values in the formula

$Tax\ amount = 76.00 * \frac{7}{100}\\= 5.32$

So, the collected tax on purchase of $76.00 is $5.32

Keywords: Tax, tax calculation

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