You purchased a good for $7.02
The total bill was $8.25
What was the tax rate?
Calculate Total Tax Amount:
Tax = Total Bill - Price
Tax Amount = $8.25 - $7.02
Tax Amount = $1.23
Setup Sales Tax Equation:
Call our sales tax percent x
Sales Tax Amount = Sale Price(x)
Divide each side of the equation by x:
| x = | Sales Tax Amount |
| Sale Price |
Plug in our values
| x = | $1.23 |
| $7.02 |
x = 0.17521367521368
Sales Tax %:
Sales Tax % = Sales Tax Amount * 100
Sales Tax % = 0.17521367521368 * 100
Sales Tax % = 17.52%
What is the Answer?
Sales Tax % = 17.52%
How does the Sales Tax Calculator work?
Free Sales Tax Calculator - Given a sales price and a total bill, this calculates the sales tax amount and sales tax percentage
This calculator has 2 inputs.
This calculator has 2 inputs.
What 2 formulas are used for the Sales Tax Calculator?
Tax Amount = Total Bill - Sales Price
Sales Tax Percentage = Sales Tax Amount * 100/Price
Sales Tax Percentage = Sales Tax Amount * 100/Price
What 5 concepts are covered in the Sales Tax Calculator?
- percent
- a specified amount in or for every hundred. one part in every hundred.
n% = n/100 - price
- the amount of money expected, required, or given in payment for something
- sale
- the exchange of a commodity or service for money; the action of selling something
- sales tax
- a tax paid to a governing body for the sales of certain goods and services.
- tax
- a compulsory financial charge or some other type of levy imposed on a taxpayer by a governmental organization in order to fund government spending and various public expenditures
