Sales Tax, Tips & Discounts 20 Questions

Front

What is sales tax?

Back

A sales tax is a percentage of the sale price of goods and services that is added to the purchase price and collected by the seller.

Front

How do you calculate the final price including sales tax?

Back

Final Price = Original Price + (Original Price x Sales Tax Rate)

Front

If a T.V costs $990 and the sales tax is 9%, what is the final price?

Back

$1,079.10

Front

What is a discount?

Back

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

Front

How do you calculate the price after a discount?

Back

Price After Discount = Original Price - (Original Price x Discount Rate)

Front

If a jacket costs $85 and is on sale for 40% off, how much do you pay?

Back

$51.00

Front

What does it mean to subtract a discount from the price?

Back

It means to reduce the original price by the amount of the discount.

Front

What is the sales tax rate in Mrs. Ray's grocery purchase?

Back

4.5%.

Front

If groceries total $35.50 and the sales tax is 4.5%, how much does Mrs. Ray owe?

Back

$37.10.

Front

How do you find the amount of sales tax on a purchase?

Back

Sales Tax Amount = Purchase Price x Sales Tax Rate.