jim bought a pair of shoes for $50 and laces for $1. if the sales tax is $7, how much tax must he pay?
To calculate the amount of tax Jim must pay, we will start by finding the total cost of his purchase.
The cost of the shoes is $50 and the cost of the laces is $1. We can add these two amounts to find the subtotal:
Subtotal = Cost of shoes + Cost of laces
= $50 + $1
= $51
Now, we need to calculate the tax. The given sales tax is $7, which represents a certain percentage of the subtotal.
Let's find out what percentage the sales tax represents:
Tax percentage = (Tax amount / Subtotal) * 100
Plugging in the values, we get:
Tax percentage = ($7 / $51) * 100
Calculating this, the tax percentage is approximately 13.73%.
Now, let's calculate the tax amount:
Tax amount = (Tax percentage / 100) * Subtotal
= (13.73 / 100) * $51
= $7 (rounded to the nearest dollar)
Therefore, Jim must pay $7 in taxes.