If Kristin buys gas at $2.69 per gallon, which includes all taxes, what percentage of the price is the state tax? What percentage is the federal tax
The state tax is .8 and federal tax is .18.
So would I multiply each by the total amount the gas cost?
state: .8/2.69 = 0.297 = 29.7%
federal: .18/2.69 = ?
oh, I feel you
To calculate the percentage of the gas price that is the state tax, you can divide the state tax amount by the total price Kristin pays for the gas. To get the state tax percentage, you multiply the result by 100.
In this case, the state tax is $0.80 and the gas price is $2.69. So, to find the percentage of the price that is the state tax, you would divide $0.80 by $2.69:
State tax percentage = ($0.80 / $2.69) * 100
Similarly, you can follow the same steps to calculate the federal tax percentage. In this case, the federal tax is $0.18. So the federal tax percentage would be:
Federal tax percentage = ($0.18 / $2.69) * 100
By multiplying each tax amount by the total gas cost, you would be calculating the tax amount, not the tax percentage.