Questions: A shopper wants to ensure he has enough cash to purchase a 24 cutting board, so he asks a clerk what the total will be with sales tax included. The clerk tells him the total will be 24.24. What is the sales tax percentage?
Write your answer using a percent sign (%).
Transcript text: A shopper wants to ensure he has enough cash to purchase a $24 cutting board, so he asks a clerk what the total will be with sales tax included. The clerk tells him the total will be $24.24. What is the sales tax percentage?
Write your answer using a percent sign (%).
Solution
Solution Steps
To find the sales tax percentage, we need to determine the difference between the total price with tax and the original price, then divide that difference by the original price. Finally, we multiply the result by 100 to convert it to a percentage.
Step 1: Calculate the Sales Tax Amount
To find the sales tax amount, we subtract the original price from the total price with tax:
\[
\text{Sales Tax Amount} = \text{Total Price with Tax} - \text{Original Price} = 24.24 - 24.00 = 0.24
\]
Step 2: Calculate the Sales Tax Percentage
Next, we calculate the sales tax percentage using the formula:
\[
\text{Sales Tax Percentage} = \left( \frac{\text{Sales Tax Amount}}{\text{Original Price}} \right) \times 100 = \left( \frac{0.24}{24.00} \right) \times 100
\]
Calculating this gives:
\[
\text{Sales Tax Percentage} = 0.01 \times 100 = 1.0
\]