Find the amount of tax and the tax rate. round to two decimal places
cost of item: $122
selling price: $137.17
tax amount: $
tax rate:

The tax amount is 15.17$

The tax rate is 12.4%.

Step-by-step explanation:

First we subtract the cost from the selling price.

137.17 - 122 = 15.17

We have found the tax amount, now for the tax rate.

If tax rate is x, then

122 * x = 137.17

Divide both sides by 122 to get

x = 137.17/122 = 1.124, or .124.

Then convert into percentage by moving the decimal to the right 2 times.

.124 = 12.4%

Hope this helps you

; )

step-by-step explanation: ; )

i dont know it

step-by-step explanation: