PSL December 10, 2024

Front

What is sales tax?

Back

Sales tax is a percentage of the sale price of goods and services that is collected by the seller and paid to the government.

Front

How do you calculate sales tax?

Back

To calculate sales tax, multiply the price of the item by the sales tax rate (as a decimal).

Front

If an item costs $100 and the sales tax rate is 5%, what is the sales tax amount?

Back

$5.00

Front

What is the formula to find the total cost including sales tax?

Back

Total Cost = Item Price + (Item Price × Sales Tax Rate)

Front

If Roberta buys a window shade for $93.60 with a sales tax rate of 6.5%, how do you find the sales tax amount?

Back

Sales Tax = $93.60 × 0.065 = $6.08

Front

What is the total cost of the window shade including sales tax?

Back

Total Cost = $93.60 + $6.08 = $99.68

Front

What does it mean to round to the nearest cent?

Back

Rounding to the nearest cent means adjusting the amount to two decimal places, where the third decimal place determines whether to round up or down.

Front

If the sales tax is $6.08, what was the original price before tax?

Back

Original Price = Total Cost - Sales Tax = $99.68 - $6.08 = $93.60

Front

What is a percentage?

Back

A percentage is a way of expressing a number as a fraction of 100.

Front

How do you convert a percentage to a decimal?

Back

To convert a percentage to a decimal, divide the percentage by 100.