Review for CBA #2 - TEKS 7.4D, 7.4B, 7.4C, 7.13A

Front

What is sales tax?

Back

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

Front

How do you calculate sales tax?

Back

To calculate sales tax, multiply the sale price by the sales tax rate (as a decimal). For example, for a $50 item with an 8% tax rate: $50 x 0.08 = $4.00.

Front

What is the formula to calculate the percentage decrease in price?

Back

Percentage decrease = (Original Price - New Price) / Original Price x 100.

Front

If a shirt originally costs $30 and is now $24, what is the percentage decrease?

Back

Percentage decrease = ($30 - $24) / $30 x 100 = 20%.

Front

What is the price per share?

Back

Price per share is calculated by dividing the total cost of shares by the number of shares purchased.

Front

If 30 shares cost $205.50, what is the price per share?

Back

Price per share = $205.50 / 30 = $6.85.

Front

How do you calculate the total cost including sales tax?

Back

Total cost = Original price + (Original price x Sales tax rate).

Front

What is the total cost of an Apple computer priced at $890 with a 6% sales tax?

Back

Total cost = $890 + ($890 x 0.06) = $890 + $53.40 = $943.40.

Front

What is a discount?

Back

A discount is a reduction in the original price of a product or service.

Front

If a dress is reduced from $20 to $12, what is the discount amount?

Back

Discount amount = Original price - Sale price = $20 - $12 = $8.