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How to calculate sales taxTo calculate sales tax of an item, simply multiply the cost of the item by the tax rate. Exercises # 1: You buy a car for 20,000 dollars and pay 5 % in tax. How much is tax? Tax = 20,000 times 5% = 20,000 times 0.05 Tax = 20,000 times 0.05 = 1,000 dollars. The cost with tax is 20,000 + 1000 = 21,000 Exercises # 2: You buy a house for 400,000 dollars and pay a tax of 6 %. How much is tax? Tax = 400,000 times 6 % Tax = 400,000 times 0.06 = 24,000 dollars The cost with tax is 400,000 + 24,000 = 424,000 dollars. Exercises # 3: The list price of a scientific calculator is 100 dollars.If you get a price discount of 15 % and pay 5 % for tax, what is the actual cost of your calculator? First, find the price after the discount Discount = 100 times 15 % = 100 times 0.15 = 15 Sale price = 100 - 15 = 85 dollars Tax paid = 85 times 5 % = 85 times 0.05 = 4.25 Actual cost = 85 + 4.25 = 89.25 dollars. You will get the same answer if you compute the tax paid first and then compute the discount. Justanswer is 100% RISK FREE.You Pay Only for the Answers You Like. Fees are Typically $9-$15
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