Find the amount of tax and the tax rate. Round to two decimal places. Cost of item: $$ \$ 129 $$ Selling price: $$ \$ 141.26 $$ Tax amount: $$ \$ $$ Tax rate:

Question

UpStudy AI · Accepted Answer

To determine the **tax amount** and the **tax rate**, we'll use the provided **cost of the item** and the **selling price**.

### Given:
- **Cost of item:** \$129.00
- **Selling price:** \$141.26

### Calculations:

1. **Tax Amount:**
   
   The tax amount is the difference between the selling price and the cost of the item.

$$
   \text{Tax Amount} = \text{Selling Price} - \text{Cost of Item} = \$141.26 - \$129.00 = \$12.26
   $$

2. **Tax Rate:**
   
   The tax rate is calculated as the tax amount divided by the cost of the item, expressed as a percentage.

$$
   \text{Tax Rate} = \left( \frac{\text{Tax Amount}}{\text{Cost of Item}} \right) \times 100 = \left( \frac{\$12.26}{\$129.00} \right) \times 100 \approx 9.51\%
   $$

### **Summary:**
- **Tax Amount:** \$12.26
- **Tax Rate:** 9.51%
**Tax Amount:** \$12.26 **Tax Rate:** 9.51%

Find the amount of tax and the tax rate. Round to two decimal places. Cost of item: \( \$ 129 \) Selling price: \( \$ 141.26 \) Tax amount: \( \$ \) Tax rate:

Solución de tutoría real

Responder

Solución

Extra Insights

preguntas relacionadas

Latest Arithmetic Questions