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Sales Tax Lesson 8-5. Sales Tax Lesson 8-5 Sales tax and discount Sales tax - is an additional amount of money charged on items people buy. The total.

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Presentation on theme: "Sales Tax Lesson 8-5. Sales Tax Lesson 8-5 Sales tax and discount Sales tax - is an additional amount of money charged on items people buy. The total."— Presentation transcript:

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2 Sales Tax Lesson 8-5

3 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.

4 Sales Tax For example if:
The combined sales tax rate for Durham, NC is 7.5%

5 Sales Tax: Finding the total cost.
A pair of shoes cost $90, and the sales tax is 7.5%. What is the total cost of the shoes? First find the amount of sales tax. 7.5% of 90 = 7.5% x 90 $6.75 (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.)

6 Sales Tax: Finding the total cost.
Add the sales tax to the original price. 90 + $6.75 = $ is the total cost of the shoes.

7 You Try! Remember two steps: 1. Find sales tax amount
A set of golf balls sells for $20, and the sales tax is 5.75%. What is the total cost? Remember two steps: 1. Find sales tax amount 2. Add the sales tax amount to the original price to get total price.

8 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.

9 Formula for Total Cost Multiply then Add

10 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?

11 Calculating sales tax from Total
Subtract then Divide

12 Let check our worksheets
Activity


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