Since the book was sold for 25.02.
The sell price = 24.
Tax = 25.02 - 24 = 1.02.
The rate is the percentage of the sell price.
= 1.02 / 24 * 100% Converting the 1.02 to fraction = 102 / 100
= (102/100) / 24 * 100
= 102 / 2400 * 100 Cancel the zeros at the top and bottom
= 102 / 24 * 1
= 102 / 24 2 into 102 = 51, 2 into 24 is 12
= 51 / 12. 3 into 51 is 17, 3 into 12 is 4.
= 17 / 4 Use your calculator.
= 4. 25
Tax rate = 4.25%. Cheers.
