Calculating Total Cost and Tax

This video tutorial covers the concept of sales tax, explaining how it is a percentage of the purchase price collected by the seller and given to the government. It demonstrates two methods to find the original price of an item before tax: using proportions and using equations. The tutorial includes examples, such as calculating the price of a sewing machine and a shirt, and concludes with a brief introduction to the next topic, simple interest.

What is sales tax?

• A discount on the sale of an item

• A fee paid to the seller

• A percentage of the purchase price collected by the government

• A fixed amount added to the price

How is the relationship between an original amount and the amount after a percent change described?

• As a proportional relationship

• As a linear relationship

• As a quadratic relationship

• As an exponential relationship

In Method 1, what is the formula used to find the original price?

• Price = Total Cost * (1 + Tax Rate)

• Price = (Total Cost * 100) / (100 + Tax Rate)

• Price = Total Cost - Tax Amount

• Price = Total Cost / (1 + Tax Rate)

What was the total cost of the sewing machine including tax?

• $185.00

• $200.00

• $192.60

• $180.00

What is the original price of the sewing machine before tax?

• $180.00

• $192.60

• $200.00

• $185.00

In Method 2, how is the total cost calculated?

• Total Cost = Price - Tax Amount

• Total Cost = Price + Tax Amount

• Total Cost = Price * (1 + Tax Rate)

• Total Cost = Price / (1 + Tax Rate)

What is the decimal representation of 107%?

• 0.107

• 0.0107

• 1.07

• 10.7

If an item costs $50 and the tax rate is 6%, what is the total cost?

• $52.00

• $56.00

• $50.60

• $53.00

How do you calculate the tax amount for an item?

• Multiply the price by the tax rate

• Divide the price by the tax rate

• Add the tax rate to the price

• Subtract the tax rate from the price

What is the total cost of a $30 shirt with a 5% tax?

• $32.00

• $30.50

• $31.00

• $31.50