Sales Tax and Markup Strategies

What is the current sales tax rate in California?

• 7%

• 10%

• 8%

• 9%

If a pair of shoes costs $63 and the sales tax is 9%, what is the total cost?

• $66.57

• $70.00

• $68.67

• $65.00

What is another term for a tip?

• Discount

• Markup

• Gratuity

• Tax

If you spend $22 on dinner and want to leave a 15% tip, how much is the tip?

• $3.00

• $3.30

• $3.50

• $3.20

What is the total cost of a $22 meal with a 15% tip?

• $25.30

• $26.00

• $25.00

• $24.50

What is a markup?

• A discount on the original price

• The amount added to the cost price to make a profit

• The tax added to the selling price

• The original price of an item

If you buy phone cases for $5 each and mark them up by 75%, what is the markup amount?

• $4.25

• $3.75

• $3.50

• $4.00

What is the selling price of a phone case bought for $5 and marked up by 75%?

• $8.50

• $8.00

• $9.00

• $8.75

Which of the following is NOT a component of the final selling price?

• Original price

• Sales tax

• Markup

• Discount

What will the next class focus on?

• Advanced algebra

• Geometry

• Real-life applications of tax, tips, and markups

• Calculating discounts