Classwork - Sales Tax and Discounts

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 sale price after a discount?

Back

Sale Price = Original Price - (Original Price x Discount Rate)

Front

What is a discount rate?

Back

A discount rate is the percentage reduction applied to the original price of an item.

Front

How do you convert a percentage to a decimal?

Back

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

Front

What is the formula to calculate the final price including sales tax?

Back

Final Price = Sale Price + (Sale Price x Sales Tax Rate)

Front

If an item costs $100 and has a 20% discount, what is the sale price?

Back

Sale Price = $100 - ($100 x 0.20) = $80.

Front

What is the sales tax rate in Walnut Creek?

Back

The sales tax rate in Walnut Creek is 9.25%.

Front

How do you round a number to two decimal places?

Back

Look at the third decimal place: if it's 5 or more, round up the second decimal place by one.

Front

If a video game costs $49.99 and is on sale for 20% off, what is the discount amount?

Back

Discount Amount = $49.99 x 0.20 = $9.998, rounded to $10.

Front

What is the final price of a $990 TV with a 9% sales tax?

Back

Final Price = $990 + ($990 x 0.09) = $1,079.10.