Question

Rocky purchased a guitar and Guitar Mart that was originally priced at $145.00. After tax, the final cost was $152.25. What was the percent of tax?

Answer 1

Given:

Original price = $145.00

Final cost = $152.25

To find:

The percent of tax.

Solution:

The formula for tax is:

Tax = Final cost - Original price

$\text{Tax}=\ 152.25-\ 145.00$

$\text{Tax}=\ 7.25$

Formula for tax percentage is:

$\text{Tax percent}=\dfrac{\text{Tax}}{\text{Original price}}\times 100$

$\text{Tax percent}=\dfrac{7.25}{145.00}\times 100$

$\text{Tax percent}=\dfrac{725.00}{145.00}$

$\text{Tax percent}=5$

Therefore, the percent of tax is 5%.