Calculating Sales Tax

Front

What is sales tax?

Back

Sales tax is a percentage of the sale price of goods and services that is collected by the seller and paid to the government.

Tags

CCSS.6.RP.A.3C

Front

How do you calculate the final price including sales tax?

Back

To calculate the final price including sales tax, multiply the original price by the sales tax rate (as a decimal), then add that amount to the original price.

Tags

CCSS.6.RP.A.3D

Front

If an item costs $100 and the sales tax is 5%, what is the final price?

Back

The final price is $105. (Calculation: $100 + ($100 * 0.05) = $105)

Tags

CCSS.6.RP.A.3C

Front

What is the formula to calculate sales tax?

Back

Sales Tax = Original Price x Sales Tax Rate.

Tags

CCSS.6.RP.A.3D

Front

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

Back

To convert a percentage to a decimal, divide the percentage by 100. For example, 20% becomes 0.20.

Front

If a product costs $50 and the sales tax is 8%, how much is the sales tax amount?

Back

The sales tax amount is $4. (Calculation: $50 * 0.08 = $4)

Tags

CCSS.6.RP.A.3C

Front

What is the total amount Myron walked away with after winning $33,000 and paying 7.25% tax?

Back

Myron walked away with $30,607.50 after paying $2,392.50 in taxes.

Tags

CCSS.7.RP.A.3

Front

How do you find the sales tax rate if you know the original price and the final price?

Back

To find the sales tax rate, subtract the original price from the final price, then divide by the original price. (Sales Tax Rate = (Final Price - Original Price) / Original Price)

Tags

CCSS.6.RP.A.3C

Front

What is the final price of an item that costs $20 with a sales tax of 15%?

Back

The final price is $23. (Calculation: $20 + ($20 * 0.15) = $23)

Tags

CCSS.6.RP.A.3C

Front

If a ticket costs $600 and the sales tax is 30%, how much is the sales tax?

Back

The sales tax is $180. (Calculation: $600 * 0.30 = $180)

Tags

CCSS.6.RP.A.3C