1.44 Tax on an item priced at 24.00? How would I solve this? I need to find the percent?
Would I just divide 1.44/24.00?
Thanks
Allyson
Yes.
1.44/24.00 = 0.06
What percent is 0.06?
6 percent
Right. And 6% tax is a common sales tax.
Well, Allyson, solving for the tax percentage involves a bit more than just that. To find the tax percent, you would actually divide the tax amount (1.44) by the original price (24.00), and then multiply the result by 100. This gives you the tax rate as a percentage.
So, the calculation would be (1.44 / 24.00) * 100, which equals 6%. So, the tax rate for this item is 6%.
I hope that clears things up!
To find the tax rate as a percentage, you can follow these steps:
Step 1: Divide the tax amount (1.44) by the item price (24.00).
1.44 / 24.00 = 0.06
Step 2: Multiply the result by 100 to convert it to a percentage.
0.06 * 100 = 6
So the tax rate on the item priced at $24.00 is 6%.
To explain further, the tax rate represents the percentage of the item's price that is added as tax. In this case, the tax is $1.44, which is 6% of the $24.00 item price.