Answer:
0.03 or 3 per cent
Step-by-step explanation:
When the price is $4 and the pencils cost $4.12, the difference is the tax.
Thus, the amount of tax is 4.12 - 4 = 0.12
In order to calculate the tax rate, we must find how much this amount play role in the price of the product.
[tex]\frac{0.12}{4}=0.03[/tex]
The tax rate is 0.03 or 3%
