Search Header Logo
  1. Resource Library
  2. Math
  3. Financial Literacy
  4. Sales Tax
  5. Sales Tax Calculation Concepts
Sales Tax Calculation Concepts

Sales Tax Calculation Concepts

Assessment

Interactive Video

Mathematics

6th - 7th Grade

Practice Problem

Hard

Created by

Thomas White

FREE Resource

The video tutorial explains how to calculate sales tax and total cost for products. It uses two examples: a $70 product and a $180 product, both with an 8% sales tax. The tutorial demonstrates the steps to calculate the sales tax and the total cost, which includes the original price plus the sales tax. The video concludes with a summary of the calculations.

Read more

21 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary purpose of learning about sales tax?

To calculate discounts on products

To learn about historical tax systems

To apply it in daily purchasing activities

To understand complex mathematical theories

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How do you calculate the sales tax for a product?

Subtract the tax percentage from the product price

Multiply the product price by the tax percentage

Divide the product price by the tax percentage

Add the product price to the tax percentage

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If a product costs $70 and the sales tax is 8%, what is the sales tax amount?

$8.40

$6.80

$7.00

$5.60

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the first step in calculating sales tax for a product?

Add the tax rate to the product price

Multiply the product price by the tax rate

Subtract the tax rate from the product price

Divide the product price by the tax rate

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If a product costs $70 and the sales tax is 15%, what is the sales tax amount?

$10.50

$9.50

$8.00

$12.00

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What formula is used to calculate the total cost of a product including sales tax?

Price - (Price x Tax Rate)

Price + (Price x Tax Rate)

Price / (1 + Tax Rate)

Price x (1 + Tax Rate)

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the total cost of a $70 product with an 8% sales tax?

$72.40

$78.00

$70.80

$75.60

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?