Let us call p the price of the chair and t the amount of tax. Then we know that
[tex]p=\$54.00[/tex]
and the price with tax is
[tex]p+t=\$54.32[/tex]
which we be written as
[tex]\$54.00+t=\$58.32[/tex]
Solving for t in the above equation gives
[tex]t=\$4.32[/tex]
Therefore, the percentage tax on the price of the chair is
[tex]\frac{4.32}{54}\times100=8\%[/tex]
The percentage tax on the price of the chair is 8%.
