Percent Sales Tax & Discount

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What is a percent sales tax?

Back

A percent sales tax is a percentage of the purchase price that is added to the total cost of an item, which is collected by the seller and paid to the government.

Tags

CCSS.6.RP.A.3C

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How do you calculate a tip based on a percentage?

Back

To calculate a tip, multiply the total bill amount by the tip percentage (as a decimal). For example, for a 15% tip on a $20 bill: 20 x 0.15 = $3.

Tags

CCSS.6.RP.A.3C

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What does it mean to have a discount on an item?

Back

A discount is a reduction in the original price of an item, usually expressed as a percentage. For example, a 10% discount on a $50 item means the item costs $45.

Tags

CCSS.6.RP.A.3C

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How do you find the sale price of an item after a discount?

Back

To find the sale price, subtract the discount amount from the original price. For example, if an item costs $100 and has a 20% discount, the discount is $20, so the sale price is $80.

Tags

CCSS.6.RP.A.3C

Front

What is the formula to calculate the total cost after sales tax?

Back

Total Cost = Original Price + (Original Price x Sales Tax Rate). For example, if an item costs $50 and the sales tax is 8%, the total cost is $50 + ($50 x 0.08) = $54.

Tags

CCSS.6.RP.A.3C

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How do you convert a percentage to a decimal?

Back

To convert a percentage to a decimal, divide the percentage by 100. For example, 15% as a decimal is 15 ÷ 100 = 0.15.

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What is the importance of rounding in financial calculations?

Back

Rounding is important in financial calculations to ensure that amounts are expressed in a standard format, typically to two decimal places, which is necessary for currency.

Front

If a DVD costs $15 and is on sale for 10% off, how much do you save?

Back

You save $1.50. (10% of $15 = $1.50).

Tags

CCSS.6.RP.A.3C

Front

What is the total amount paid if a meal costs $30 and a 15% tip is added?

Back

Total amount paid = $30 + ($30 x 0.15) = $30 + $4.50 = $34.50.

Tags

CCSS.6.RP.A.3C

Front

How do you calculate the percentage of sales tax paid?

Back

To calculate the percentage of sales tax paid, use the formula: Sales Tax Rate = (Sales Tax Amount / Original Price) x 100. For example, if the sales tax is $4 on a $50 item, the tax rate is (4/50) x 100 = 8%.

Tags

CCSS.6.RP.A.3C