An item has a listed price of $45. if the sales tax rate is 7%, how much is the sales tax (in dollars)

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varshamittal029 varshamittal029 · Answer 1 · 2022-09-19T21:19:21+02:00

The sales tax on the item listed price of $45 is $3.15 .

Sales tax is an additional charge on most goods and services purchased from a store or business. This is usually a percentage of the value of goods or services added to the total cost.
The amount of sales tax charged at the time of purchase varies depending on where you are in the world, and the money raised is usually donated to governments to fund schools, fire departments, etc.

To calculate sales tax, you must first convert the tax rate to a decimal value by dividing it by 100% , we get

7/100=0.07

The total cost of the items is $45. To calculate sales tax, simply multiply this price by the previously calculated decimal number , we get

45 × 0.07 = $3.15

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