Question

Find the amount of taxes we will pay on a purchase of $1,444.70 with a tax rate of 6.8%. show all steps.

Answer 1

Step 1

The purchase = $1444.70

The tax rate = 6.8%

Required; to find the taxes

Step 2

Find the taxes (x) using ratio

$\begin{gathered} \frac{1444.70}{x}=\frac{100}{6.8} \\ 100x=\text{ 9823.96} \\ x=\frac{9823.96}{100} \\ x=\text{\ }98.2396 \\ x\approx\text{\ }98.24 \end{gathered}$

Hence the amount of taxes paid on the purchase will be approximately $98.24