SOLUTION: A 5% tax is imposed on the gross sales of liquor. How much tax is imposed on gross sales amounting to $2500.00? We are dealing with money and percent, before we can combine them

Question 161987: A 5% tax is imposed on the gross sales of liquor. How much tax is imposed on gross sales amounting to $2500.00?
We are dealing with money and percent, before we can combine them we must work with same type of number; so lets change the percent to decimal (money number)
5% is the same as .05 (i.e. 5%/100%=5/100=.05)
Now to find the answer to this we just multiply the amount with the sales tax
2500(.05)=125.00
Answer by eperette(173) (Show Source): You can put this solution on YOUR website!

RELATED QUESTIONS
A single person pays $6,600 in income taxes on a gross income of $33,000. How much would (answered by rfer)

If the sales tax rate is 6.5% AND $2500 is collected in sales tax, how much were the... (answered by checkley71)

sales tax of $16.00 on an item that costs 205 before tax,2nd item sales tax is $9.60,how... (answered by richwmiller)

There is a sales tax of $6 on an item that costs $64 before tax. The sales tax on a... (answered by Theo)

a sales tax of 5 and 3 over 4 percent is charged on a blouse priced at $42. How much... (answered by checkley71)

Midtown Antiques collects 6% sales tax on all sales. If total sales including tax are... (answered by stanbon)

Marion receives a monthly base salary of $1000. On the first $10,000 of sales above her... (answered by josmiceli,stanbon)

what is 5% sales tax on... (answered by psbhowmick)

The pay rate and hours worked are given below. Use this information to determine the... (answered by ikleyn)