Mike bought a pen that was priced at $6.95, and the total bill was $7.64. What is the sales tax rate in this
country?
To find the sales tax rate, we need to determine the amount of sales tax paid and then divide it by the original price of the item.
The total bill is $7.64, which includes the sales tax.
Let's subtract the original price of the pen from the total bill to find the amount of sales tax paid:
$7.64 - $6.95 = $0.69
The amount of sales tax paid is $0.69.
To find the sales tax rate, we divide the amount of sales tax paid by the original price of the item and multiply by 100 to express it as a percentage:
($0.69 / $6.95) * 100 = 9.93%
Therefore, the sales tax rate in this country is approximately 9.93%.