Because of the sales tax in a particular region, a customer in a supermarket must pay...
Because of the sales tax in a particular region, a customer in a supermarket must pay $2.10 for a package of candy marked $1.95. What is the effective tax rate on this purchase, expressed as a percentage?
Homework Answers
tax amount = amount paid - cost of candy
=>$2.10-1.95
=>$0.15
effective tax rate = tax amount / cost of candy *100
=>0.15/ 1.95 *100
=>7.69%.
effective tax rate = 7.69%.
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