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Sales tax
1. Sales Tax
Example 5: If your restaurant food was $17.00 and the total bill was
$17.68, then what is the sale tax rate being charged?
Analysis: Sales tax is the difference between the amount of the
total bill and the price of the item. If we divide the sales
tax by the price of the item, we get the sales tax rate.
Solution: $17.68 - $17.00 = $0.68 and ($0.68) ÷ ($17.00) = 0.04.
Answer: The sales tax rate is 4%.
Summary: Sales tax is a tax on goods and services purchased and is normally a
percentage added to the buyer's cost.