Given:
The total cost of espresso machine costs $46.95. and the tax rate is 4%.
To find:
Find the sales tax?
Explanation:
[tex]Sale\text{s tax=Sales tax percenatge}\times pre-tax\text{ cost}[/tex][tex]Total\text{ cost=Pre-tax value +Sales tax}[/tex]
Solution:
We will start by converting sales tax percentage into a decimal by moving
the point two spaces to the left.
6%=0.06
Now, we need to multiply the pre-max cost of this item by this value
in order to calculate the sales tax cost
[tex]\begin{gathered} Sales\text{ tax=}0.04\times46.95 \\ Sales\text{ tax=1.878} \end{gathered}[/tex]
Round to two decimal places
[tex]Sales\text{ tax=\$1.88}[/tex]
Last, add this value of the pre-tax value of the item to find the total cost.
[tex]\begin{gathered} Total\text{ cost=Pre tax value + Sales tax} \\ Total\text{ Cost=46.95+1.88} \\ Total\text{ cost=}48.83 \end{gathered}[/tex]
Hence, these are the required values.
