Question

while looking at some reports, a store manager notes that antique clocks that retail for $975 end up costing customers $1,053 once the sales tax is added. what is the sales tax percentage? write your answer using a percent sign (%).

Explanation:

Step1: Find the tax amount

Subtract the retail price from the total price. So, \(1053 - 975 = 78\).

Step2: Calculate the tax percentage

Use the formula \(\text{Tax Percentage} = \frac{\text{Tax Amount}}{\text{Retail Price}} \times 100\%\). Substitute the values: \(\frac{78}{975} \times 100\% = 0.08 \times 100\% = 8\%\).

Answer:

8%