Sales Tax And Discount Worksheet

Percents

 Parts of a Whole  Percent Change  Commission  Discount  Sales Tax  Mark-up  Percent Expressions

Name ______Class Color______Percent Percent % Decimal Fraction “Opposite” 5% .05 95%

50% .5 ½ 50%

100% 0% Percents

Fractions Decimals Percents

 How do you convert a fraction to a  How do you convert a decimal to a decimal? percent?        How do you convert a decimal to a  How do you convert a percent to a fraction? decimal?     Fractions  Decimals  Percents     1/3       0.25        100%        2/5        0.5        62.5%     4    2 /5        .05        0.5%       Percents: Are ratios that compare ______   Parts of a Whole   There are 1200 students in a school. 1/5 of the students are majoring in Science. Of the science majors 30% are Biology majors. Of the Biology majors, 2/3 are Marine Biology majors. How many of students in the school are Marine Biology majors?       1. A clothing store sells scarves in different colors. The table shows the colors of the last 200 scarves sold. 

   The manager plans to order 1800 new scarves for all of the stores in the region. How many of each color should she order?   Red Blue Green

    Yellow Purple White       The purchasing manager wants to order 12,000 scarves for the U.S. How many of each color should she order?   Red Blue Green

    Yellow Purple White  Percent Increase and Decrease   Difference  Original    1. You bought an antique porcelain doll for $15 at an estate sale. You get it appraised and you are told that the doll is worth $150. What was the percent increase?      2. During a weight loss challenge your friend goes from 125 pounds to 100 pounds. What was the percent weight loss?      3. The number of visitors to a web site went from 140 to 160 over a two month period. What is the  percent increase in the number of visitors for the two months? (Round to the nearest whole number)       4. Your neighbor had to drop the selling price of her home from $180,000 to $165,000. What percent did the price get lowered? (Round to the nearest tenth)        5. Your boss gave you a raise. Your weekly salary went from $375 to $450. What was your percent raise?       6. Flood waters decreased in depth from 15 inches to 8 inches. What was the percent decrease? Do not write a repeating decimal and do not round! (Write your answer as a mixed number)     Percent Change  1. Find the percent of change: from 30 to 39    2. Find the percent of change: from 280 to 126     3. A computer that cost $1,099 last year costs $999 this year. What is the percent of change in price?    4. A racing bicycle that cost $1,500 new costs $845 used. What is the percent of change in price?     5. In the United States in the 20th century, average life expectancy increased from about 47 years to about 77 years. Find the percent of increase.    6. Find the percent of change: from 48 to 60    7. Find the percent of change: from 60 to 48    8. A 7th grader solved the following: Dario is finding the percent change from $52 to $125.  What was hismistake?  Commission   Commission is the money paid to you when you sell a product or service for a company. Sometimes you earn an hourly wage plus commission. Sometimes instead of paying you a certain hourly or weekly salary, companies pay the workers for what they sell, or a straight commission.    Example  Jimmy is a salesman at Amy’s Furniture. He earns a base salary of $350 per week plus 6% commission on sales. What was Jimmy’s weekly salary if his total sales for the week were $7500?       1. Carol sells candles and Yankee Candle. She earns $8.50 per hour plus 6% commission on sales. Last week Carol worked 40 hours. What was Carol’s weekly gross salary if her total sales were $250?        2. Ben earns straight commission as a real-estate agent. Last month his total sales for all the houses he sold were $950,000. If Ben earns a 3% rate of commission, what was his gross income last month?       3. Jenna earns straight commission selling cell phone contracts. Last month she sold 210 cell phone contracts worth a total of $29,950. If Jenna earns an 8% rate of commission, what was her gross income last month?        4. Julie sells jewelry at house parties as a way to make extra money. Her commission is 11% of the sales she makes. She had 3 parties this month. The sales for the 3 parties were $810, $670, and $925. What was her commission for the month?      

 Discount  Procedure: 1. The “discount” is usually given as a percent. Turn the % into a decimal. [Ex. 40% = .40] 2. To find the discount, multiply the rate (as a decimal) by the original price. [$49(.40)] = 3. To find the sale price, subtract the discount from original price. [$49 - $49(.40)]   Example  In a clothing store, a shirt that sells for $15 is marked “10% off.” What is the discount? What is the sale price of the shirt?       1. At Target, a $40 dress is marked down 25%. What is the discount? What is the sale price of the dress?       2. At CVS, a $12 case of cola is labeled, "Get a 20% discount." What is the discount? What is the sale price of the case of cola?       3. In a candy store, a $5.00 bag of candy is labeled, "50% off." What is the discount? What is the sale price of the bag of candy?       4. Bert’s Bike Shop has a $400 bicycle marked with a sign that says, "Take a 35% discount." What is the sale price of the bicycle?       5. Mary wants to buy a DVD. The original price was $29. The DVD is on sale for 30% off. How much was the discount? How much will Mary pay for the DVD before sales tax is added?  Sales Tax  Procedure: 1. The rate is usually given as a percent. Turn the % into a decimal. [8.75% = .0875] 2. To find the sales tax, multiply the rate (as a decimal) by the original price. [$7.36(.0875)] 3. To find the cost, add the sales tax to the sale price. [$7.36 + $7.36(.0875]   Example   If the sales tax rate is 7.5% in state that you live in, how much would you pay for a pair of shoes that cost $39.00?       1. The car you want costs $25,750. If the sales tax rate is 6.5%, then how much sales tax will be added? What is the total cost for the car including tax?       2. If the sales tax rate is 8.75% in New York State, how much sales tax would you pay for a $35 pair of pants?       4. At Best Buy they have a 50” TV tagged as $1,250.It’s on sale for 15% and sales tax is 8%. What is the final cost?       Fees and Tips   5. If your cell phone bill is $67.82 and there is a 7.5% late fee, how much will your bill be if it’s late?      6. You and 3 friends go out to eat at Applebee’s.The bill for the meal was $72.50, there is 6.75% sales tax and you should tip the waiter 15%. How much should each person pay?  Mark- Up   When you own a store, you purchase items from the manufacturer and then “mark-up” the price to sell it. The difference between what you sell the item for and what you bought it for is your profit.   Example   You own a boutique. You purchased the following items from a clothing manufacturer and marked them up by 30%.   Item Purchase Price Mark Up Selling Price   Jeans $12 each    Sweater $25 each    Skirt $15 each    Dress Pants $18 each    If you sold one of each item above what would the total profit be?     1. If the cost to make bracelets is $5 each and you want to profit $2 on the sale of each bracelet. What is your mark-up as a percent on each bracelet?      2. You bought popular toy on sale for $20 and want to sell it on EBay. You want to mark up the toy 60%. What did you sell it for?      3. What was the mark-up on a $217.50 item if the purchase price was $150 (in dollars and as a %).     4. Growing up, you lived in a small town. When you left for college, the population was 840. You recently heard that the population has grown by 15%. What is the population now?   Sales Tax     Original Price  Sales Tax  Final Price #       

  Using a sales tax of 8%, find the cost of each item: 1. a $2.00 magazine 2. a $5.00 book on dogs 3. a $1.50 comic book 4. a $10.00 tech deck set 5. a $6.00 meal at McDonald’s 6. a $15.00 t-shirt    Round answer to the nearest cent (hundredth).  7. Subtotal: $325.00 8. Subtotal: $13.50  Sales tax: 6%  Sales tax: 7%  Total Cost: ______ Total Cost: ______

9. Subtotal: $8.99 10. Subtotal: $15.75  Sales tax: 6%  Sales tax: 7%  Total Cost: ______ Total Cost: ______     EXTRA CREDIT/BONUS PROBLEM:  Frank buys a new video game. The 5% sales tax is $0.75. What is the price of the game?   Mark-Ups    1) Cost of a sled: $99.50 Markup: 85%       2) Cost of a comic book: $3.95 Markup: 20%       3) Cost of an oil change: $18.00 Markup: 70%       4) Cost of a CD: $14.50 Markup: 30%       5) Cost of an MP3 player: $129.50 Markup: 40%       6) Cost of an oil change: $21.95 Markup: 65%       7) Cost of a pen: $0.95 Markup: 60%       8) Cost of a computer: $1,850.00 Markup: 75%    Discount   When you pay for something with a discount, you pay a portion of the original price.   Example  The price of a pair of jeans is $25. If there is a 15% discount, what is the sale price of the jeans?  Original Price Original Price   A) Sale price = $25 – $25(.15) B) Sale price = $25(.85)  p – p(.15) p(.85)      Finding the original price   1. Sally buys a hand bag. There was a discount of 30%. If Sally paid $17.50, what was the original price?        2. Andrea bought diamond necklace for $61.75. There was a discount of 5%. What was the original price?        3. Janelle bought a pair of sneakers for $75.65. There was a 15% discount. What was the original price of the sneakers?        4. The price Mrs. Bittner paid for a table was $84. This included a 40% discount. What was the price of the table before the discount?       5. The price Jimmy paid for a video game is .85x. What was the discount?   Sales Tax   When you pay for something with sales tax, you pay for the item PLUS sales tax. (100% + sales tax % rate)   Example  The price of a pair of jeans is $25. If the sales tax where you live is 6%, how much is the cost of the jeans?  Original Price Original Price   A) Sale price = $25 + $25(.06) B) Sale price = $25(1.06)  p + p(.06) p(1.06)      Finding the original price   1. Daniel paid $22 for a water bottle. This amount includes 5% tax. What was the cost of the item before tax?       2. Mr. Wilson paid $45 for honey. This amount includes a tax of 8%. What was the cost of the honey before tax?        3. Mr. Anderson paid $19.18 for a CD cover. This amount includes a tax of 8.5%. What was the cost of the CD cover before tax?        4. Mr. Martin paid $15.98 for a star fish. This amount includes a tax of 6.5%. What was the price of the star fish before tax?     Percent Expressions   If P is the Price, fill in the blanks below    1. If you get a 20% discount you pay ____P.   2. If you pay a 8% tax you pay _____P.   3. If .85P is what you pay, the discount is ______%   4. If the discount is .30P, then you pay _____P   5. If the discount on an item is 20%, the original price    6. If you paid 1.065P for an item, what was the sales tax rate _____%    7. If p is the population in 2014 and in 2015 there was a 15% increase, write an expression using “p” to represent the population in 2015.     8. Write an expression using p for the sale price of an item with a 35% discount.     9. Write an expression using p for the cost of an item with a 7% sales tax rate.     10. Write and solve an expression to find the original price of an item that was on sale for $33.15 which included a 15% discount.   Simple Interest   Interest is the money paid on a loan. The borrower (you) pays the interest. The lender (the bank) earns the interest. Interest is also paid to you by the bank for money you invest for a short period of time.   The Interest is calculated based on:  ______(P) (the amount borrowed or Invested),  ______(r) the rate (as a decimal), and  ______(t) a period of time. 

 Finding the Interest   1. Calculate the simple interest on a loan of $3500 for a period of 2 years at an annual rate of 5%.       Finding the Principal   2. If the interest earned on an investment was $288 for 6 years and the interest rate was 4%, what was the initial investment?         Finding the Interest Rate   3. $2500 was invested for 3 years and earned $450 in interest. Find the rate of interest.        Find the Period of time for the loan or investment   4. An investment of $3000 at a yearly rate of 6.5% earned $390 in interest. Find the period of time for which the money was invested.       Simple Interest I = P · r · t     Interes  Princip  Rate  Time t al    $1,050  4.5%  2 years 1

  $22.50   3%  3 years 2

   $500  5%  3 3 months   $43.75  $2500  3.5%  4

  Show work here for 1 – 4   1. 2.       3. 4.        5. If the initial investment in an account was $1,200, earning 3.9%, for 8 months, what is the interest earned?        6. How long would an $800 investment take to earn $160 at a rate of 5% annually?        7. What is the interest rate if you earned $504 on an $1800 investment for 4 years?         Simple Interest Practice    1. P = $1,000 r = 5% t = 2 years 2. I = $330 r = 3% t = 3 years   I = ______·______·______= P · ______· ______       3. I = $600 P = $2,500 t = 4 years 4. I = $108 P = $900 r = 4%   ______= ______· r · ______= ______· ______· t        5. You deposit $5,000 in an account that earns 5% simple interest. How long will it be before the total amount is $6,000?        6. After 6 years, an account that earns 4% simple interest has earned $480 in interest. How much was the initial deposit?        7. A deposit of $7,500 earns $3,900 over a period of 8 years. What is the simple interest rate?         8. You deposit $4,500 in an account that earns 6% simple interest. How much will be in your account after 5 years?