Basic Math Skills Lesson 10: Sales Tax p
Definitions Sales tax: money paid as tax when you buy an item Tax rate: the percent charged as tax
Sales Tax Most states charge a sales tax on items a consumer buys. The consumer pays this tax. The tax rate is a percent of the price to be added to the price. With sales tax, you round any part of a cent up instead of to the nearest cent.
Example A poster costs $ Tax rate 5%. Tax: $10.90 x.05 = $0.545 rounded up to $0.55 Price with tax: $ $0.55 = $11.45