- #1
chocolatelover
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Hi everyone,
A child is surprised that she must pay $1.40 for a toy marked $1.25 because of sales tax. What is the effective tax rate on this purchase?
I know that the difference between the two is .15. I could just guess and check, but is there a formula?
Thank you very much
Homework Statement
A child is surprised that she must pay $1.40 for a toy marked $1.25 because of sales tax. What is the effective tax rate on this purchase?
Homework Equations
The Attempt at a Solution
I know that the difference between the two is .15. I could just guess and check, but is there a formula?
Thank you very much