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Calculating Tax and Discounts.

Calculating Tax and Discounts. What is Sales Tax in our province. HST is 13% HST stands for Harmonized sales tax We add 13% to most goods purchased in stores. Example. A sweater costs $34.99. What is the after tax cost? $34.99 x 0.13 = 4.55 After tax price is $34.99+4.55 = $39.54.

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Calculating Tax and Discounts.

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  1. Calculating Tax and Discounts.

  2. What is Sales Tax in our province • HST is 13% • HST stands for Harmonized sales tax • We add 13% to most goods purchased in stores

  3. Example • A sweater costs $34.99. What is the after tax cost? • $34.99 x 0.13 = 4.55 • After tax price is $34.99+4.55 = $39.54

  4. Discounts • There can be discounts on all sorts of items and for all sorts of amounts • Typical discount amounts are: • 5%,10%, 15%, etc

  5. Example • A pair of shoes is listed at $85.49. However there is a 30% discount. • Caclculate the after tax price of the shoes. • Step 1 Calculate the amount of the discount: • 85.49 x 0.3= $25.65 • Step 2. Calculate the discounted price • 85.49-25.65= $59.84

  6. Example Continued • Step 3 Calculate the tax: • $59.84 x 0.13 = $7.78 • Step 4 Calculate the after tax price • $59.84+$7.78 = $67.62

  7. Summary • Calculate the discount first then add on the tax afterwards.

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