An item costs $380 before tax, and the sales tax is $30.40.
Find the sales tax rate. Write your answer as a percentage.
The sales tax rate can be found by dividing the amount of sales tax by the original cost of the item:
Sales tax rate = (Sales tax / Original cost) x 100%
Sales tax rate = ($30.40 / $380) x 100%
Sales tax rate = 0.08 x 100%
Sales tax rate = 8%
Therefore, the sales tax rate is 8%.
To find the sales tax rate, we can use the formula:
Sales tax rate = (Sales tax / Cost before tax) * 100
Given that the cost before tax is $380 and the sales tax is $30.40, we can substitute these values into the formula:
Sales tax rate = (30.40 / 380) * 100
Calculating this:
Sales tax rate = 0.08 * 100
Sales tax rate = 8
Therefore, the sales tax rate is 8%.