calculating tax

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What is tax?

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A tax is a mandatory financial charge or levy imposed by a government on individuals or businesses to fund public services and infrastructure.

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What is sales tax?

Back

Sales tax is a tax imposed on the sale of goods and services, usually calculated as a percentage of the purchase price.

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CCSS.6.RP.A.3B

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How do you calculate sales tax?

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To calculate sales tax, multiply the price of the item by the sales tax rate (as a decimal). For example, for a $100 item with a 5% tax rate: $100 x 0.05 = $5.

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CCSS.6.RP.A.3B

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What is the formula to find the total cost including tax?

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Total Cost = Price of Item + (Price of Item x Sales Tax Rate).

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CCSS.6.RP.A.3C

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

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Total Cost = $50 + ($50 x 0.08) = $54.

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CCSS.6.RP.A.3C

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What does 'discount' mean?

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

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CCSS.6.RP.A.3C

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How do you calculate the amount saved from a discount?

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

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CCSS.6.RP.A.3B

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

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Amount Saved = $30 x 0.20 = $6.

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CCSS.6.RP.A.3C

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What is the final price after applying a discount?

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Final Price = Original Price - Amount Saved.

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CCSS.6.RP.A.3C

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If an item costs $40 and has a 25% discount, what is the final price?

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Final Price = $40 - ($40 x 0.25) = $30.

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CCSS.6.RP.A.3C