What is the method to calculate sales tax on an item?

Personal Financial Literacy Concepts Review

Interactive Video
•
Mathematics
•
6th - 10th Grade
•
Hard

Amelia Wright
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Divide the price by the tax rate
Add the tax rate to the price
Multiply the price by the tax rate in decimal form
Subtract the tax rate from the price
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How can you simplify a percent proportion before solving?
By multiplying both sides by 100
By dividing both the numerator and denominator by the same number
By adding 100 to both sides
By subtracting the percentage from 100
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which store offers a better discount for a computer priced at $950?
Both offer the same discount
Neither store offers a discount
Store B with 25% off
Store A with 20% off
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the annual income required to meet a monthly budget of $4000?
$48,000
$12,000
$36,000
$24,000
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What percentage of the monthly budget is spent on transportation?
5%
25%
10%
15%
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How do you calculate net worth?
Assets divided by liabilities
Assets minus liabilities
Assets plus liabilities
Liabilities minus assets
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the formula for simple interest?
A = P(1 + r)^t
I = prt/100
A = P(1 + rt)
I = PRT
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