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?
1 answer:
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
Given
Total purchase = $76.00
Percentage of tax = 7%
So,
Putting the values in the formula
So, the collected tax on purchase of $76.00 is $5.32
Keywords: Tax, tax calculation
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