Percent Sales Tax & Discount

Front

What is the formula to calculate the sales tax amount?

Back

Sales Tax Amount = Purchase Price x Sales Tax Rate.

Front

How do you calculate the total cost after sales tax is applied?

Back

Total Cost = Purchase Price + Sales Tax Amount.

Front

What is a discount in terms of percentage?

Back

A discount is a reduction from the original price, expressed as a percentage of the original price.

Front

How do you calculate the sale price after a discount is applied?

Back

Sale Price = Original Price - (Original Price x Discount Rate).

Front

If an item costs $100 and has a 20% discount, what is the sale price?

Back

Sale Price = $100 - ($100 x 0.20) = $80.

Front

What does it mean to have a percentage off?

Back

It means that a certain percentage of the original price is subtracted from the total price.

Front

How do you convert a percentage to a decimal for calculations?

Back

To convert a percentage to a decimal, divide by 100 (e.g., 25% = 0.25).

Front

What is the relationship between sales tax and the final price of an item?

Back

Sales tax increases the final price of an item above its original price.

Front

If a product is originally priced at $50 and is on sale for 15% off, what is the discount amount?

Back

Discount Amount = $50 x 0.15 = $7.50.

Front

How do you find the percentage of a number?

Back

Percentage of a number = (Part / Whole) x 100.