Sales Tax

Front

What is sales tax?

Back

Sales tax is a percentage of the price of goods and services that is added to the total cost at the time of purchase.

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%, how much is the sales tax?

Back

$5.00

Front

What is the formula to find the total cost after tax?

Back

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

Front

If you buy a toy for $20 and the sales tax is 8%, what is the total cost?

Back

Total Cost = $20 + ($20 × 0.08) = $21.60

Front

What does a sales tax rate of 6.5% mean?

Back

It means that for every dollar spent, an additional 6.5 cents is added as tax.

Front

If you spend $50 and the sales tax is 7%, how much do you pay in total?

Back

Total = $50 + ($50 × 0.07) = $53.50

Front

How do you convert a percentage to a decimal for calculations?

Back

To convert a percentage to a decimal, divide by 100 (e.g., 6% = 0.06).

Front

If a shirt costs $30 and the sales tax is 10%, how much tax do you pay?

Back

Tax = $30 × 0.10 = $3.00

Front

What is the total cost of a $15 book with a 5% sales tax?

Back

Total Cost = $15 + ($15 × 0.05) = $15.75