Cost of an item is 700 dollars and the tax rate is 8 percent how much is the sales tax and total cost

Figuring out percentages is pretty simple once you know what percent means. Percent means a portion of something divided into 100 pieces, or X/100.

In your case you want 8%, so we do the math 8/100, and we get 0.08 as the answer.

Now that we have actual numbers with which to work, 8 % of $700 is calculated as 0.08 * 700, which is 56.

So the sales tax on the item is $56, and when we add that to the item's cost ($700 + $56) we get $156.00 as the total.

Reuters is reporting that Nassau County in New York is expected to lose some $30,000,000 in sales tax due to the effects of "superstorm Sandy."

Updated on Tuesday, November 06 2012 at 02:45AM EST
Collections: tax ratetotal costsales tax