Answer
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Sales Tax % = 6.5%
↓Steps Explained:↓
You purchased a good for $48.00
The total bill was $51.12
What was the tax rate?
Calculate Total Tax Amount:
Tax = Total Bill - Price
Tax Amount = $51.12 - $48.00
Tax Amount = $3.12
Setup Sales Tax Equation:
Call our sales tax percent x
Sales Tax Amount = Sale Price(x)
Divide each side of the equation by x:
| x = | Sales Tax Amount |
| Sale Price |
Plug in our values
| x = | $3.12 |
| $48.00 |
x = 0.065
Sales Tax %:
Sales Tax % = Sales Tax Amount * 100
Sales Tax % = 0.065 * 100
Sales Tax % = 6.5%Related Calculators: Percent Off Problem | Coupon Comparison | Sales Price Variance