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Sales Tax and Discount

Sales Tax and Discount. Lesson 8-5. Sales tax and discount. Sales tax - is an additional amount of money charged on items people buy. The total cost is the regular price plus the sales tax.

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Sales Tax and Discount

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  1. Sales Tax and Discount Lesson 8-5

  2. Sales tax and discount • Sales tax - is an additional amount of money charged on items people buy. The total cost is the regular price plus the sales tax. • Discount – the amount by which the regular price of an item is reduced. The sale price is the regular price minus the discount.

  3. Sales Tax • The local, state, or federal government receives this money. • For example if: • Louisiana State sales tax is 4% • Vermilion Parish sales tax is 4.5% • Total rate of tax is 8.5%

  4. Sales Tax: Finding the total cost. • A pair of shoes cost $90, and the sales tax is 4.25%. What is the total cost of the shoes? • First find the amount of sales tax. 4.25% of 90 = 4.25% x 90 $3.83 (This is the amount of tax being charged on the sale. So to find the total cost we add the tax to the original price.)

  5. Sales Tax: Finding the total cost. Add the sales tax to the original price. 90 + 3.83 = $93.83 is the total cost of the shoes.

  6. Sales Tax • A set of golf balls sells for $20, and the sales tax is 5.75%. What is the total cost? • 5.75% of 20 • 5.75% x 20 = • $1.15 • $20 + $1.15 = • $21.15 Add the sales tax to the original price.

  7. Sales Tax • Your Turn: • A video game system cost $130 and the sales tax is 6.5%. What is the total cost of the video game system? The total cost = $138.45

  8. Discount: Finding the sale price. • Alan wants to buy a bike that has a regular price of $169. This week the bike is on sale at a 35% discount. What is the sale price of the bike? • 35% of 169 • 35% x 169 = • The discount is $59.15

  9. Discount: Finding the sale price. • Subtract the discount from the original price. • $169 - $59.15 = • The sale price is $109.85

  10. Discount • Your Turn: • Whitney wants to buy a new coat that has a regular price of $185. This weekend, the coat is on sale at 33% off. What is the sale price of the coat? • $123.95

  11. Find the Percent of the Discount • An electric guitar is on sale. What is the percent of the discount? • First find the amount of the discount. $299.95 - $179.99 = $119.96 $119.96 is what percent of $299.95 Original Price $299.95 Sale Price $179.99 This is the amount you save.

  12. Find the Percent of the Discount • $119.96 is what percent of $299.95 p 119.96 = 299.95 100 p = 39.99 Round to the nearest whole number. p = 40 The discount is 40%

  13. Find the percent of discount • Your Turn: • A sports watch has an original price of $86. The sale price is $60.20. What is the percent of discount? • 30%

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