Sales Tax

Sales tax is a fee charged by governments on products, and is calculated as a percentage of the selling price of a product. Depending on your country of residence, this sales tax might have a name, for example, in Jamaica the sales tax is called General Consumption Tax, G.C.T, in England and most of Europe its called, VAT, Value Added Tax.

Now to find the selling price of a product inclusive of the sales tax amount, add the sales tax to 100% and find that percentage of the selling price. So if the sales tax is 10% , the formula would be:

Example:

Given that the sales tax on all products is 15%, find the final selling price of a product which costs $1500.

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