6-1 to 6-4 Review

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 $199.95 item with a 9% tax rate: $199.95 x 0.09 = $18.00.

Front

What is a sales receipt?

Back

A sales receipt is a document that serves as proof of purchase for goods or services.

Front

How do you determine the better deal between two options?

Back

To determine the better deal, compare the cost per unit or the total cost for the same quantity. The option with the lower cost per unit is the better deal.

Front

What is the cost per hour when babysitting for 8 hours at $72.00?

Back

The cost per hour is $72.00 / 8 hours = $9.00 per hour.

Front

What is the cost per hour when babysitting for 6 hours at $57.00?

Back

The cost per hour is $57.00 / 6 hours = $9.50 per hour.

Front

Which is the better deal: 1/2 pint of oil at $0.90 or 2 pints of oil at $3.20?

Back

2 pints of oil at $3.20 is the better deal because it costs $1.60 per pint, while 1/2 pint at $0.90 costs $1.80 per pint.

Front

How do you calculate the total cost including sales tax?

Back

To calculate the total cost including sales tax, add the sales tax to the original price. For example, for a $1459.00 computer with a 9% tax: $1459.00 + ($1459.00 x 0.09) = $1590.31.

Front

What is the formula for calculating sales tax?

Back

Sales Tax = Sale Price x Sales Tax Rate.

Front

If an item costs $100 and the sales tax is 8%, what is the total cost?

Back

Total Cost = $100 + ($100 x 0.08) = $108.