Comparing Prices and Sales Tax

Front

What is sales tax?

Back

Sales tax is a percentage of the sale price of goods and 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).

Front

What is the formula to find the sales tax rate?

Back

Sales Tax Rate = (Sales Tax Amount / Cost of Item) x 100%.

Front

If a refrigerator costs $1,200 and the sales tax is $96, what is the sales tax rate?

Back

8%.

Front

How do you compare prices to find the better buy?

Back

Calculate the price per item for each option and compare them.

Front

If Sunny's Bakery sells 10 muffins for $4.50, what is the price per muffin?

Back

$0.45 per muffin.

Front

If Fresh Bakes sells 12 muffins for $6.00, what is the price per muffin?

Back

$0.50 per muffin.

Front

Which bakery has the better buy on muffins, Sunny's Bakery or Fresh Bakes?

Back

Sunny's Bakery.

Front

What does a discount mean?

Back

A discount is a reduction in the original price of a product.

Front

How do you calculate the final price after a discount?

Back

Final Price = Original Price - (Original Price x Discount Rate).