You live in a state with sales tax of 5%. You buy a car for 15,000. What is the sales tax?
Business · High School · Thu Feb 04 2021
Answered on
Given the statement:
You live in a state with sales tax of 5%. You buy a car for 15,000.
Determine the sales tax if you buy a car for 15,000.
Solution:
In order to determine the sales tax, we simply need to multiply 15,000 by the decimal value of 5%. In converting a percentage into decimal, divide the percentage by 100, hence in converting a decimal to percentage, multiply the percentage by 100.
= 5/100
= 0.05
= (0.05)(15,000)
= 750
Final answer:
The sales tax is 750.