7.1.2 Sales Tax, Tips, and Markups

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Presentation transcript:

7.1.2 Sales Tax, Tips, and Markups

Bellwork Layla made a 76% on her last exam. If the exam had 45 questions, how many did she get correct? Solve: 3.45-6.42(2.44) What is 35% of 123?

Glossary Rate: is talking about a percent/percentage of something Sales Tax: it is the amount our government charges us to buy an item Total cost: is the cost of an item at its regular price PLUS the sales tax Tip or Gratuity: a small amount of money given in return for a service (most popularly in the food service industry) Total Price: is the regular price PLUS the tip/gratuity Markup: a store sells items for more than it pays for those items. Amount INCREASE Selling Price: is the amount the customer pays for an item

Section 1: sales tax and total cost Ben is buying a keyboard that sells for $59.99. Sales tax on the keyboard is 7%. Find the total cost of the keyboard. Step one: Write down ALL the information you are given Step two: Decide if you are going to add or subtract from your whole Step three: Set up your proportion

Ben is buying a keyboard that sells for $59. 99 Ben is buying a keyboard that sells for $59.99. Sales tax on the keyboard is 7%. Find the total cost of the keyboard.

Practice: Find the total cost of an item that sells for $138. The sales tax rate is 7.5%. Find the total cost of an item that sells for $4,200. The sales tax rate is 9.3%. Jane paid $242.88 at Best Buy. If the price before taxes was $230, what percentage of sales tax did she pay?

Section 2: Tips and Markups A customer wants to tip 15% on a restaurant bill that is $35. What will the total bill be with the tip? A store pays $56 for a GPS navigation system. The markup is 25%. Find the selling price. Find the selling price of a $62.25 karaoke machine with a 60.5% markup.

Find the total cost of the following: $2.95 notebook; 5% tax $58 bill; 20% tip $28 lunch; 15% gratuity $46 shoes; 2.9% tax

Practice continued… Find the selling price of a $270 bicycle with a 24% markup. What is the sales tax on a chair selling for $178.90 if the tax rate is 5.75%? Heather bought a top for $26 and a matching pair of shoes for $38. If the sales tax rate is 6%, what is the total cost for both items?

Try this one out: Jamie went to have a manicure that costs $30. He wanted to tip the technician 20% and tax is 5.75%. How much did he spend in total on the manicure?

Practice continued: $99 CD player; 5% tax $8.50 yoga mat; 75% markup $13 haircut; 15% tip Diana cleans a home for a summer job. She chargers $70 for the job plus 5% for supplies. The homeowner gave her a 15% tip. How much did Diana receive?