What percent () do I have to pay on this gold ring?

• A. Tax
• B. Tip
• C. Fee
• D. Duty

Answer: (A)

When you buy a gold ring, the percent you pay is sales tax. This is a government levy added to your purchase price and shown on the receipt as a separate amount. It’s mandatory and varies by location and item type. The other terms describe different charges: a tip is voluntary money for service, a fee is a charge for a specific service, and a duty is a tariff on imported goods. So, the percent you pay on the ring is sales tax.