Sales Tax and Discounts

Front

What is sales tax?

Back

Sales tax is a percentage of the purchase price added to the cost of goods and services, collected by the seller and paid to the government.

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CCSS.6.RP.A.3C

Front

How do you calculate sales tax?

Back

To calculate sales tax, multiply the purchase price by the sales tax rate (as a decimal).

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CCSS.6.RP.A.3B

Front

What is a discount?

Back

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

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CCSS.6.RP.A.3C

Front

How do you calculate the final price after a discount?

Back

To calculate the final price after a discount, subtract the discount amount from the original price.

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CCSS.7.EE.B.3

Front

What is the formula to find the discount amount?

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Discount Amount = Original Price x Discount Rate (as a decimal).

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CCSS.6.RP.A.3B

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How do you convert a percentage to a decimal?

Back

Remove the % sign and divide by 100.

Front

If a toy costs $25 and has a 10% discount, what is the discount amount?

Back

The discount amount is $2.50.

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CCSS.6.RP.A.3C

Front

If an item costs $50 and the sales tax is 5%, what is the total cost?

Back

Total Cost = $50 + ($50 x 0.05) = $52.50.

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CCSS.6.RP.A.3C

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What is the total cost of an item after applying a 20% discount and then adding 6% sales tax?

Back

Total Cost = (Original Price - Discount) + Sales Tax.

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CCSS.6.RP.A.3C

Front

How do you find the total cost after applying sales tax?

Back

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

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CCSS.6.RP.A.3C