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Sales Tax, Tips, Discounts

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Presentation on theme: "Sales Tax, Tips, Discounts"— Presentation transcript:

1 Sales Tax, Tips, Discounts

2 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.

3 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 $ = $16.28

4 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: $ $5.13 = $84.12

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

6 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.

7 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


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