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7.5

Percent and Problem Solving: Sales Tax, Commission, and Discount. 7.5. Calculating Sales Tax and Total Price. Most states charge a tax on certain items when purchased called a sales tax. A 5% sales tax rate on a purchase of a $10.00 item gives a sales tax of.

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7.5

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  1. Percent and Problem Solving: Sales Tax, Commission, and Discount 7.5

  2. Calculating Sales Tax and Total Price Most states charge a tax on certain items when purchased called a sales tax. A 5% sales tax rate on a purchase of a $10.00 item gives a sales tax of sales tax = 5% of $10 = 0.05 ∙ $10.00 = $0.50

  3. SalesTax and Total Price The total price to the customer would be purchase price sales tax plus $10.00 + $0.50 = $10.50

  4. SalesTax and Total Price sales tax = tax rate ∙ purchase price total price = purchase price + sales tax

  5. Calculating Commissions A wage is payment for performing work. An employee who is paid a commission as a wage is paid a percent of his or her total sales. commission = commission rate • sales

  6. Discount and Sale Price` amount of discount = discount rate ∙ original price sale price = original price - amount of discount

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