Percent and Problem Solving: Sales Tax, Commission, and Discount

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Percent and Problem Solving: Sales Tax, Commission, and Discount
Chapter 1 / Whole Numbers and Introduction to Algebra Section 7.5 Percent and Problem Solving: Sales Tax, Commission, and Discount

Chapter 1 / Whole Numbers and Introduction to Algebra
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 Martin-Gay, Prealgebra, 5ed

Chapter 1 / Whole Numbers and Introduction to Algebra
The total price to the customer would be purchase price sales tax plus \$10.00 + \$0.50 = \$10.50 Martin-Gay, Prealgebra, 5ed

Chapter 1 / Whole Numbers and Introduction to Algebra
Sales Tax and Total Price sales tax = tax rate • purchase price total price = purchase price + sales tax Martin-Gay, Prealgebra, 5ed

Chapter 1 / Whole Numbers and Introduction to Algebra
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 = commission rate • sales Martin-Gay, Prealgebra, 5ed

Chapter 1 / Whole Numbers and Introduction to Algebra
Discount and Sale Price amount of discount = discount rate • original price sale price = original price - amount of discount Martin-Gay, Prealgebra, 5ed