Sales Tax, Tips, Discounts

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Presentation transcript:

Sales Tax, Tips, Discounts

Sales Tax Determined by finding a certain percentage of a purchase price. It is added to your total bill when you make a purchase. TIP Money given to someone to show appreciation for a service. To calculate Sales Tax and Tip: 1. Change the percent to a __________ by moving the decimal ____ places to the _________. 2. ____________ the dollar amount by the sales tax decimal. 3. ADD sales tax to calculate the total.

Ex. Calculating Sales tax and Tip Figure out your total bill Ex. Calculating Sales tax and Tip Figure out your total bill. If you buy a Cd for $15.50 with a sales tax of 5% Step One: convert the percentage to a decimal. Step Two: Multiply the price and the decimal Step three: Add the tax or tip to the price 5% = .05 $15.50 x .05 = .775 Round to .78 $15.50 + .78 = $16.28

Step One: 6.5% = .065 Step Two: $78.99 x .065 Lindsey went to Best Buy and bought an MP3 Player. If the MP3 player cost $78.99 and the sales tax was 6.5%, what was her total Bill? Step One: 6.5% = .065 Step Two: $78.99 x .065 Step Three: $78.99 + $5.13 = $84.12

Karlie ate lunch with her friends at Salsa Karlie ate lunch with her friends at Salsa. They had a delicious meal that cost $21.23. If they tipped their waiter 18%, what was their total bill? Step One: 18% = Step Two: $21.23 x Step Three: $21.23 +

Discount A deduction from the original price of something. To calculate Discount and Sales Price Change the percent to a ___________ __________ dollar amount by the discount decimal. SUBTRACT discount price from original price to calculate total.

How to figure the discount Discount = percent of discount x original price = .20 (20%) x $39.95 = $7.99 Sales Price = Original Price – Discount = $39.95 – $7.99 = $31.96 is the price you pay after discount. Example: Calculate discount and sale price for a $64 item marked 35% off Discount ________ Sales Price