The sales tax for an item was $7.20 and it cost $360 before tax.
Find the sales tax rate. Write your answer as a percentage.
The sales tax rate can be found by dividing the sales tax by the original price before tax and then multiplying by 100 to get a percentage:
Sales tax rate = (Sales tax / Original price before tax) x 100
In this problem, the sales tax is $7.20 and the original price before tax is $360, so:
Sales tax rate = (7.20 / 360) x 100
Sales tax rate = 0.02 x 100
Sales tax rate = 2%
Therefore, the sales tax rate is 2%.
To find the sales tax rate, we can use the formula:
Sales Tax Rate = (Sales Tax / Cost before Tax) * 100
Given that the sales tax is $7.20 and the cost before tax is $360, we can substitute these values into the formula:
Sales Tax Rate = (7.20 / 360) * 100 = 0.02 * 100 = 2%
Therefore, the sales tax rate is 2%.