Question

Fiod the amountof tax and the tax rate. Round to nearest hundredth of a percent
Cost ofitem: $148
Selling price: $154.4
Tax amount: $
Tax rate: %

Answer 1

Answer:

Tax Amount: $6.40

Tax rate: 4.32%

Step-by-step explanation:

1. To get the tax amount, subtract the cost of the product from the selling price.

$154.40-$148.00 = $6.40

2. Divide the tax amount by the cost of the item.

6.40 ÷ 148=0.0432

3. Multiply by 100

0.0432 × 100 = 4.32%