Question

The price of a new car is$429,990.00. if the sales tax rate is 10%then .how much sales tax is being charged? what is total cost for the car including tax?

Answer 1

Sales Tax: $21,499.50

Selling Price of Car with sales tax = $451,489.50

Explanation:

Sales tax charged = 5% of cost

= 429,990 x 5%

= 429,990 x 5/100 (convert % to decimal by dividing by 100)

= 429,990 x 0.05

= $21,499.50

To find selling price, add sales tax to cost
Selling Price = $429,990 00 + $21,499.50 = $451,489.50