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If a watch costs $40 and you must pay 6.5% sales tax, how much will the tax be? |
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Answer» SALES tax = 6.5 % The tax in AMOUNT = ? Firstly, we should KNOW how to find the sales tax with the help of rate and cost price/original price.. Sales tax = Rate × Cost price Now we have both rate (i.e. 6.5%) and the cost price of the watch (i.e. $40). Plugging in the above formula: ✎ Sales tax = 6.5% × $40 ✎ Sales tax = 65/1000 × $40 ✎ Sales tax = $2600/1000 ✎ Sales tax = $2.6 The tax paid by the consumer for buying the watch is |
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