12. the total cost of an item is the price plus the sales tax. find the sales tax to complete the table…
12. the total cost of an item is the price plus the sales tax. find the sales tax to complete the table. then find the total cost of the item. sales tax selling price rate of sales tax sales tax $40.00 4%
Answer
Explanation:
Step1: Convert percentage to decimal
To find the sales - tax, we first convert the sales - tax rate from a percentage to a decimal. The sales - tax rate is 4%, and $4%=\frac{4}{100}=0.04$.
Step2: Calculate sales tax
The formula for sales tax is $Sales\ Tax = Selling\ Price\times Sales\ Tax\ Rate$. Given the selling price is $40.00$ and the sales - tax rate is $0.04$, we have $Sales\ Tax=40\times0.04 = 1.60$.
Step3: Calculate total cost
The total cost of the item is the sum of the selling price and the sales tax. So, $Total\ Cost=40 + 1.60=41.60$.
Answer:
The sales tax is $$1.60$ and the total cost of the item is $$41.60$.