Sales Tax and Markup Calculations

The video tutorial explains how to calculate additional costs such as tax, tips, and markups. It covers methods to find total costs by adding these extra charges to the initial price. Examples include calculating shipping and handling, tax on purchases, tips on bills, and store markups for profit. The tutorial also introduces a quicker method for calculating total costs by combining percentages.

What is the formula to calculate the total cost including tax?

• Total cost = Item cost - Sales tax

• Total cost = Item cost + Sales tax

• Total cost = Item cost / Sales tax

• Total cost = Item cost * Sales tax

If an item costs $50 and the shipping and handling fee is 15%, what is the shipping and handling cost?

• $5.00

• $12.50

• $10.00

• $7.50

How do you convert 15% to a decimal?

• 15.0

• 0.015

• 1.5

• 0.15

What is the total cost if an item costs $88 and the tax is 10%?

• $95.80

• $96.80

• $98.00

• $97.80

What is the quicker method to calculate the total cost including tax?

• Multiply the item cost by 1.1

• Multiply the item cost by 0.1

• Add 10% of the item cost to the item cost

• Subtract 10% of the item cost from the item cost

If Amy spent $25 on brunch and leaves an 18% tip, what is the total cost including tip?

• $30.00

• $28.50

• $27.50

• $29.50

How do you calculate the total cost including tip using the combined percentage method?

• Multiply the original cost by 0.18

• Subtract 18% of the original cost from the original cost

• Add 18% of the original cost to the original cost

• Multiply the original cost by 1.18

If a store pays $628 for a dishwasher and marks it up by 40%, what is the new price?

• $890.00

• $870.00

• $880.00

• $879.20

What is the profit if a store marks up a $628 dishwasher by 40%?

• $251.20

• $250.00

• $260.00

• $240.00

What is the quicker method to calculate the new price of a marked-up item?

• Subtract 40% of the original cost from the original cost

• Add 40% of the original cost to the original cost

• Multiply the original cost by 1.4

• Multiply the original cost by 0.4