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Sales Tax and Discount

Sales Tax and Discount. Mrs. Ford. Warm Up. If the price of gas increases from $1.01 per gallon to $1.21 per gallon, what is the percent of increase? 1.21 – 1.01/ 1.01 = .198 or 20% What is the percent of increase from 50 to 75? ( 75 – 50) / 50 = 0.5 or 50%. Vocabulary.

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Sales Tax and Discount

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  1. Sales Tax and Discount Mrs. Ford

  2. Warm Up • If the price of gas increases from $1.01 per gallon to $1.21 per gallon, what is the percent of increase? 1.21 – 1.01/ 1.01 = .198 or 20% • What is the percent of increase from 50 to 75? (75 – 50) / 50 = 0.5 or 50%

  3. Vocabulary • Sales Tax – a percent of the purchase price and is an amount paid in addition to the purchase price. • Discount – the amount by which the regular price of an item is reduced.

  4. Find the total price of a $17.75 soccer ball if the sales tax is 6%. Method 1 First, find the sales tax. 6% of $17.75 = 0.06 x 17.75 = 1.07 The sales tax is $1.07 Next, add the sales tax to the regular price. 1.07 + 17.75 = 18.82 The total cost of the soccer ball is $18.82.

  5. Find the total price of a $17.75 soccer ball if the sales tax is 6%. Method 2 Add the percent of tax to 100% 100% + 6% = 106% The total cost is 106% of the regular price. 106% of $17.75 = 1.06 x 17.75 = 18.82 The total cost of the soccer ball is $18.82.

  6. Find the price of a $69.50 tennis racket that is on sale for 20% off. • Find the amount of discount d. part = percent x whole d = 0.2 x 69.50 Use the percent equation d = 13.90 The discount is $13.90 The sale price of the tennis racket is $69.50 - $13.90 = $55.60

  7. Find the total cost or sale price to the nearest cent. 1. $22.95 shirt; 7% sales tax Method 1 Find the Tax 0.07 x 22.95 = 1.61 Add the tax to the retail price 22.95 + 1.61 = 24.56 Method 2 107% of $22.95 = 1.07 x 22.95 = 24.56

  8. $39.00 jeans; 25% discount Find the amount of the discount Part = percent x whole d = .25 x 39.00 d = $9.75 The discount is $9.75 Subtract the discount price from the retail price $39.00 – 9.75 = 29.25 The sale price is $29.25

  9. Your Turn • $35 belt; 40% discount • $115.48 watch; 6% sales tax • $16.99 book; 5% off • $349 television; 6.5% sales tax

  10. Jon and Amie each purchased a pair of shoes during the annual sale at the Shoe Factory. All shoes were priced at 40% off the original price. • If Jon paid $35 for his shoes, what was the original price? • If Amie bought a pair of shoes originally priced at $79, what was the sale price?

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