Sales Tax/Discount

Front

What is sales tax?

Back

A sales tax is a percentage added to the price of goods and services, collected by the seller and paid to the government.

Front

How do you calculate the amount of sales tax?

Back

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

Front

If an item costs $50 and the sales tax is 8%, what is the total cost?

Back

Total cost = $50 + ($50 * 0.08) = $54.

Front

What is a discount?

Back

A discount is a reduction in the price of a product or service, often expressed as a percentage.

Front

How do you calculate the amount saved from a discount?

Back

To calculate the amount saved, multiply the original price by the discount rate (as a decimal).

Front

If a shirt costs $30 and is 20% off, how much do you save?

Back

You save $30 * 0.20 = $6.

Front

What is the sale price after a discount?

Back

Sale price = Original price - Amount saved.

Front

If a pair of shoes costs $80 and has a 15% discount, what is the sale price?

Back

Sale price = $80 - ($80 * 0.15) = $68.

Front

What is the formula for calculating the final price after sales tax?

Back

Final price = Original price + (Original price * Sales tax rate).

Front

If a laptop costs $1,200 and the sales tax is 7%, what is the final price?

Back

Final price = $1,200 + ($1,200 * 0.07) = $1,284.