What is the sales tax rate in the city?
How to find the sales tax rate?
To calculate the sales tax rate in the city, you can use the formula:
Sales Tax Rate (%) = (Sales Tax Amount / Purchase Amount) x 100%
In a certain city, you would pay $13.02 on a purchase of $140. What is the sales tax rate in the city?
1) 9.3%
2) 9.3
3) 0.093
4) 93%
Sales Tax Rate Calculation
Based on the provided data, the Sales Tax Amount is $13.02 and the Purchase Amount is $140.
Sales Tax Rate Calculation
Now, let's calculate the sales tax rate using the formula:
Sales Tax Rate (%) = ($13.02 / $140) x 100%
By substituting the values into the formula:
Sales Tax Rate = (0.093 x 100%) = 9.3%
The sales tax rate in the city is 9.3%.
Therefore, the answer to the question is option 1) 9.3%.
By dividing the Sales Tax Amount by the Purchase Amount and multiplying by 100%, we can determine the sales tax rate accurately.