The sales tax is $29.96 on the purchase of a dining room set for $749. Find the sales tax rate.
To find the sales tax rate, we need to divide the sales tax amount by the purchase amount, and then multiply by 100 to express it as a percentage.
Sales tax rate = (sales tax amount / purchase amount) * 100
Sales tax rate = ($29.96 / $749) * 100
Sales tax rate ≈ 0.0399 * 100
Sales tax rate ≈ 3.99
The sales tax rate is approximately 3.99%.