Consumer Math Semester 1 Review Flashcardizz

Front

What is the formula to calculate sales tax?

Back

Sales Tax = Purchase Price × Sales Tax Rate

Front

If a car costs $6,821 and four tires cost $110 each, what is the total purchase price before tax?

Back

Total Purchase Price = $6,821 + (4 × $110) = $6,821 + $440 = $7,261

Front

What is the total sales tax on a purchase of $7,261 with a sales tax rate of 6%?

Back

Sales Tax = $7,261 × 0.06 = $435.66

Front

How do you calculate commission on a tiered sales structure?

Back

Calculate commission for each tier separately and sum them up.

Front

What is the commission earned on the first $25,000 at a rate of 2%?

Back

Commission = $25,000 × 0.02 = $500

Front

What is the commission earned on the next $25,000 at a rate of 4%?

Back

Commission = $25,000 × 0.04 = $1,000

Front

What is the commission earned on sales over $50,000 at a rate of 8% for a sale of $118,000?

Back

Commission = ($118,000 - $50,000) × 0.08 = $5,440

Front

What is the total commission earned on a sale of $118,000?

Back

Total Commission = $500 + $1,000 + $5,440 = $6,940

Front

How do you calculate straight-time pay?

Back

Straight-Time Pay = Hourly Wage × Total Hours Worked

Front

If Sophia earns $9.75 an hour and works 18 hours one week and 24 hours the next, what is her total pay?

Back

Total Pay = ($9.75 × 18) + ($9.75 × 24) = $175.50 + $234 = $409.50