Sales Tax

Front

What is sales tax?

Back

Sales tax is a percentage of the purchase price that is added to the total cost of goods and services, collected by the seller and paid to the government.

Front

How do you calculate sales tax?

Back

To calculate sales tax, multiply the purchase price by the sales tax rate (as a decimal).

Front

If an item costs $100 and the sales tax rate is 5%, how much is the sales tax?

Back

$5.00 (calculated as $100 x 0.05).

Front

What is the total cost of an item if the price is $100 and the sales tax is 5%?

Back

$105.00 (calculated as $100 + $5).

Front

What is the formula to find the total cost including sales tax?

Back

Total Cost = Purchase Price + (Purchase Price x Sales Tax Rate).

Front

If a pair of shoes costs $80 and the sales tax is 6%, what is the total cost?

Back

$84.80 (calculated as $80 + ($80 x 0.06)).

Front

What is the sales tax rate in Indiana?

Back

The sales tax rate in Indiana is 7%.

Front

If you buy a video game for $50 and the sales tax is 8.5%, how much will you pay in total?

Back

$54.25 (calculated as $50 + ($50 x 0.085)).

Front

How much is the sales tax on a $200 purchase with a 6.5% tax rate?

Back

$13.00 (calculated as $200 x 0.065).

Front

If you buy clothes worth $247.16 and the sales tax is 6.5%, what is the total amount paid?

Back

$263.23 (calculated as $247.16 + ($247.16 x 0.065)).