true or false: if the sales tax rate is 5.4%, the sales tax on a $97.20 purchase is $5.25. true false
true or false: if the sales tax rate is 5.4%, the sales tax on a $97.20 purchase is $5.25. true false
Answer
Explanation:
Step1: Calculate sales - tax amount
The formula for calculating sales - tax is $Tax\ amount=Purchase\ amount\times Tax\ rate$. Given the purchase amount is $$97.20$ and the tax rate is $5.4%=0.054$. So, $Tax\ amount = 97.20\times0.054$.
Step2: Perform the multiplication
$97.20\times0.054 = 5.2488\approx5.25$.
Answer:
True