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Sales Tax and Percent Discounts

Learning about sales tax and percent discounts.

RCS ExecDirTech

on 28 October 2011

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Transcript of Sales Tax and Percent Discounts

How do
solve? they
it a
try Practice Problems, turn on your brains! You want to buy the 101-disc CD Changer and also the Digital Camera.
If the sales tax is 6.5%, what is your after-tax total? 8.4% sales tax on one cell Phone
What is the sales tax? Sales Tax - Tax levied on consumers for certain sales of merchandise or services by states, counties, or various local governments. -Rath Koster, A Theory of Fun Tax = $400,000 times 6 %

Tax = $400,000 times 0.06 = $24,000

The total cost with tax is $400,000 + $24,000 = $424,000 dollars. You buy a house for 400,000 dollars and pay a tax of 6 %. How much is tax? http://www.flickr.com/photos/seandreilinger/959010447 the act of
a problem fun We pay sales tax as a way to support the local governments in our states. The money is used to fund public parks and schools, and to pay the wages of state workers. Tax = 20,000 times 0.05 = 1,000 dollars.

Add the base price to the sales tax to get the final cost of the car.

The cost with tax is $20,000 + $1000 = $21,000 You buy a car for 20,000 dollars and pay 5 % in tax. How much is tax? Problems More ? You want to buy the new Apple Computer and also the Portable iPod Player. If the sales tax is 8.5%, what is your after-tax total? Percent
Discounts Mary's dinner consisted of a cheeseburger and fries for $5.25, a soda for $0.95, and an ice cream sundae for $2.79. The tax rate was 8%. How much was her total bill? Practice Problems What is sales tax?
Why do we have it?
How do we solve it mathematically? Sales tax is always important to calculate when you need the total cost of an item Option 2:

Problem -
Original price of a book: $18.50
Discount: 45%

Subtract the discount percent from 100%.
100% - 45% = 55%

Next multiply the answer (55%) by the orginal price to get the dicounted cost. (remember to change to a decimal)

$18.50 x .55 = $10.17 Final thoughts ... Change the percent to a decimal.
Tax = 20,000 times 5% = 20,000 times 0.05 20,000 0.05 ________ x Problem 1 Problem 2 6% sales tax on one 55 inch television
What is the sales tax? $1299.99 $350.00 $419.57 $678.33 $2359.54 $450.00 Many states and cities levy a sales tax on retail purchases. The sales tax is determined by finding a percentage of the purchase price. The percentage of tax called the tax rate varies between different cities and states. What is that dis·count (dis′ko̵unt′; for v., also dis ko̵unt′)

a reduction from a usual or list price a percentage is a way of expressing a number as a fraction of 100 (per cent meaning "per hundred" in Latin). It is often denoted using the percent sign, "%", or the abbreviation "pct". For example, 45% (read as "forty-five percent") is equal to 45/100, or 0.45 . There are two
ways to solve for a percent discount. Which one works for you? Option 1:

Problem -
Original price of a book: $18.50
Discount: 45%

Multiply the orginal price by the discount percent. (don't forget to change to a decimal) $18.50 x .45 = $8.33

Then subtract the answer from the orginal cost. $18.50 - $8.33 = $10.17 Original price of a telescope: $199.99 Discount: 13% Which option do you prefer?


Share! It is a puzzle :) Original price of a video camera: $554.99 Discount: 48% Original price of shorts: $39.99
Discount: 35% Original price of a goldfish: $1.50
Discount: 5% Cost of an oil change: $21.95 Tax: 6.5% Cost of a computer: $1,850.00
Disount: 25%
Tax: 8.3% Original price of concert tickets: $253.89
Discount: 15%
Tax: 23% Original price of a CD: $22.95
You are purchasing 3
Discount: 10%
Tax: 4.5% Original price of an SUV: $52,999.99
Discount: 18%
Tax: 3%
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