Sales Tax and original price

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 the final price including sales tax?

Back

Final Price = Original Price + (Original Price × Sales Tax Rate)

Front

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

Back

Final Price = $100 + ($100 × 0.05) = $105

Front

What is the sales tax rate in decimal form for 9.9%?

Back

0.099

Front

If the original price of an item is $50 and the sales tax rate is 2.5%, what is the sales tax amount?

Back

Sales Tax = $50 × 0.025 = $1.25

Front

What is the final price of an item priced at $30 with a sales tax rate of 5%?

Back

Final Price = $30 + ($30 × 0.05) = $31.50

Front

How do you convert a percentage to a decimal?

Back

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

Front

If an item costs $200 and the sales tax is 9.9%, what is the total amount paid?

Back

Total Amount = $200 + ($200 × 0.099) = $219.80

Front

What is the original price if the final price is $110 and the sales tax rate is 10%?

Back

Original Price = Final Price / (1 + Sales Tax Rate) = $110 / 1.10 = $100

Front

If the sales tax rate is 5% and the final price is $21, what was the original price?

Back

Original Price = Final Price / (1 + Sales Tax Rate) = $21 / 1.05 = $20