After sales tax, a $4,000 plasma screen TV costs $4,056. What is the sales tax percentage?
Write your answer as a decimal using a percent sign (%). For example, 0.5% or 12.7%.
The sales tax percentage can be calculated by taking the difference between the final price and the original price, and then dividing it by the original price.
Sales tax = ($4,056 - $4,000) / $4,000
Sales tax = $56 / $4,000
Calculating this fraction, the sales tax percentage is 0.014 or 1.4%.