Sales Tax and Discount Lesson 8 5 Sales

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Sales Tax and Discount Lesson 8 -5

Sales Tax and Discount Lesson 8 -5

Sales tax and discount • Sales tax - is an additional amount of money

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. • Discount – the amount by which the regular price of an item is reduced. The sale price is the regular price minus the discount.

Sales Tax • The local, state, or federal government receives this money. • For

Sales Tax • The local, state, or federal government receives this money. • For example if: • Louisiana State sales tax is 4% • Vermilion Parish sales tax is 4. 5% • Total rate of tax is 8. 5%

Sales Tax: Finding the total cost. • A pair of shoes cost $90, and

Sales Tax: Finding the total cost. • A pair of shoes cost $90, and the sales tax is 4. 25%. What is the total cost of the shoes? • First find the amount of sales tax. 4. 25% of 90 = 4. 25% x 90 $3. 83 (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. )

Sales Tax: Finding the total cost. Add the sales tax to the original price.

Sales Tax: Finding the total cost. Add the sales tax to the original price. 90 + 3. 83 = $93. 83 is the total cost of the shoes.

Sales Tax • A set of golf balls sells for $20, and the sales

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 = Add the sales tax to the original price. $1. 15 $20 + $1. 15 = • $21. 15

Sales Tax • Your Turn: • A video game system cost $130 and the

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? The total cost = $138. 45

Discount: Finding the sale price. • Alan wants to buy a bike that has

Discount: Finding the sale price. • Alan wants to buy a bike that has a regular price of $169. This week the bike is on sale at a 35% discount. What is the sale price of the bike? • 35% of 169 • 35% x 169 = • The discount is $59. 15

Discount: Finding the sale price. • Subtract the discount from the original price. •

Discount: Finding the sale price. • Subtract the discount from the original price. • $169 - $59. 15 = • The sale price is $109. 85

Discount • Your Turn: • Whitney wants to buy a new coat that has

Discount • Your Turn: • Whitney wants to buy a new coat that has a regular price of $185. This weekend, the coat is on sale at 33% off. What is the sale price of the coat? • $123. 95

Find the Percent of the Discount • An electric guitar is on sale. What

Find the Percent of the Discount • An electric guitar is on sale. What is the percent of the discount? Original Price • First find the amount of the $299. 95 discount. Sale Price $299. 95 - $179. 99 = $179. 99 $119. 96 This is the amount you save. $119. 96 is what percent of $299. 95

Find the Percent of the Discount • $119. 96 is what percent of $299.

Find the Percent of the Discount • $119. 96 is what percent of $299. 95 119. 96 299. 95 = p 100 p = 39. 99 Round to the nearest whole number. p = 40 The discount is 40%

Find the percent of discount • Your Turn: • A sports watch has an

Find the percent of discount • Your Turn: • A sports watch has an original price of $86. The sale price is $60. 20. What is the percent of discount? • 30%

Practice • Work with a partner to complete: Pg. 356 # 12, 14, 16,

Practice • Work with a partner to complete: Pg. 356 # 12, 14, 16, 22 and 24. Your Homework: Complete lesson 8 -5 # 2 -20 evens

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