Navigating Percent Problems: Sales Tax, Discounts, and Interest

What is the sales tax called in many countries?

• Property Tax

• Goods and Services Tax (GST)

• Income Tax

• Corporate Tax

If an air ticket costs $400 before GST and the GST rate is 7%, what is the GST amount?

• $7

• $28

• $40

• $14

A laptop costs $750 before GST. If the GST rate is 7%, what is the GST amount?

• $75

• $52.50

• $105

• $7.50

What does a discount represent?

• An increase in price

• A reduction in price

• A tax on goods

• A fee for services

If a printer's usual price is $200 and it has a 30% discount, what is the discount amount?

• $30

• $20

• $90

• $60

A sofa set costs $840 and has a 34% discount. What is the discount amount?

• $84

• $340

• $285.60

• $28.56

What is interest in financial terms?

• A fee for services

• A discount on goods

• A tax on income

• A fee paid to a lender when borrowing

If Kelly has $8000 in her bank account and the bank pays 5% interest annually, how much interest does she earn in one year?

• $40

• $800

• $80

• $400

Mr. Lee has $12,500 in his bank account. If the bank pays 6% interest annually, how much interest does he earn in one year?

• $750

• $1250

• $625

• $1500

Lisa took a $13,800 loan from a bank with an 8% interest rate. How much interest did she pay in the first year?

• $1380

• $690

• $1104

• $828