Financial Literacy: Tax and Cost Calculations

This video tutorial covers seventh-grade math concepts related to percentages, including calculating commissions, taxes, discounts, and markups. It explores proportional relationships and equations, and demonstrates how to calculate interest and savings. The tutorial provides practical examples to help students understand and apply these concepts in real-life scenarios.

If Silvio earns a 10% commission on a $2000 car sale, how much does he make?

• $100

• $150

• $250

• $200

A hotel charges a 10% room tax on a $200 per night stay for 10 nights. What is the total tax paid?

• $100

• $150

• $200

• $250

If a school district saves 8% sales tax on a $2992.50 purchase, how much is saved?

• $260

• $240

• $220

• $200

What is the cost of a uniform if the total cost before a 5% discount is $3150?

• $115

• $110

• $105

• $100

If a student's school taxes increase by 2%, what is the new tax amount if the original was $3000?

• $3060

• $3100

• $3120

• $3080

How much does a student pay for a lost uniform costing $105 if they pay 75% of the cost?

• $82.50

• $80

• $78.75

• $75

If a club wants to earn $500 by keeping 30% of sales, what should the total sales be?

• $1666.67

• $1500

• $1800

• $2000

A candy bar bought for $0.75 is marked up by 40%. What is the selling price?

• $1.05

• $1.00

• $1.10

• $1.15

If $500 is placed in a savings account with 0.5% interest, how much interest is earned?

• $2.50

• $2.75

• $2.00

• $2.25

How much more does a team need to raise if they have $502.50 and need $600?

• $87.50

• $92.50

• $97.50

• $102.50