Sales Tax Practice

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 total cost including sales tax?

Back

Total Cost = Price of Item + (Price of Item x Sales Tax Rate)

Front

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

Back

Total Cost = $100 + ($100 x 0.05) = $105

Front

What is the formula to find the amount of sales tax paid?

Back

Sales Tax Paid = Price of Item x Sales Tax Rate

Front

If a product costs $200 and has a sales tax of 8%, how much sales tax do you pay?

Back

Sales Tax Paid = $200 x 0.08 = $16

Front

What is the final price of an item that costs $50 with a sales tax of 6%?

Back

Final Price = $50 + ($50 x 0.06) = $53

Front

If the sales tax rate is 10%, how much would you pay in tax for a $300 purchase?

Back

Sales Tax Paid = $300 x 0.10 = $30

Front

What is the total cost of a $150 item with a 12% sales tax?

Back

Total Cost = $150 + ($150 x 0.12) = $168

Front

If an item is $75 and the sales tax is 7%, what is the total cost?

Back

Total Cost = $75 + ($75 x 0.07) = $80.25

Front

What happens if the sales tax is 0%?

Back

If the sales tax is 0%, the total cost is the same as the price of the item.