Tax, Tip, Mark up Practice

Tax, Tip, Mark up Practice

Assessment

Flashcard

Mathematics

8th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

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15 questions

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1.

FLASHCARD QUESTION

Front

What is sales tax?

Back

Sales tax is a percentage of the price of a product that is added to the total cost at the time of purchase.

2.

FLASHCARD QUESTION

Front

How do you calculate the total cost with sales tax?

Back

To calculate the total cost with sales tax, multiply the price by the sales tax rate, then add that amount to the original price.

3.

FLASHCARD QUESTION

Front

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

Back

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

4.

FLASHCARD QUESTION

Front

What does it mean to 'add' sales tax to a price?

Back

Adding sales tax means increasing the original price by a certain percentage to find the final amount paid.

5.

FLASHCARD QUESTION

Front

What is the formula for calculating sales tax?

Back

Sales Tax = Price x Sales Tax Rate.

6.

FLASHCARD QUESTION

Front

If a shirt costs $20 and the sales tax is 5%, how much is the sales tax?

Back

Sales Tax = $20 x 0.05 = $1.00.

7.

FLASHCARD QUESTION

Front

What is the final price of an item that costs $40 with a 10% sales tax?

Back

Final Price = $40 + ($40 * 0.10) = $44.

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