Find the amount of tax and their tax rate round to the nearest decimal places cost of item $65 selling price $83.52
To find the amount of tax and the tax rate, we can subtract the cost of the item from the selling price.
Amount of tax = Selling price - Cost of item = $83.52 - $65 = $18.52
Tax rate = (Amount of tax / Cost of item) * 100
= ($18.52 / $65) * 100
= 28.49%
Rounded to the nearest decimal place, the tax rate is 28.5%.