Transcript
![Page 1: Basic Math Skills Lesson 10: Sales Tax p. 150-151](https://reader036.vdocument.in/reader036/viewer/2022072011/56649e395503460f94b2ad55/html5/thumbnails/1.jpg)
Basic Math SkillsLesson 10: Sales Tax
p. 150-151
![Page 2: Basic Math Skills Lesson 10: Sales Tax p. 150-151](https://reader036.vdocument.in/reader036/viewer/2022072011/56649e395503460f94b2ad55/html5/thumbnails/2.jpg)
Definitions
Sales tax: money paid as tax when you buy an item
Tax rate: the percent charged as tax
![Page 3: Basic Math Skills Lesson 10: Sales Tax p. 150-151](https://reader036.vdocument.in/reader036/viewer/2022072011/56649e395503460f94b2ad55/html5/thumbnails/3.jpg)
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.
![Page 4: Basic Math Skills Lesson 10: Sales Tax p. 150-151](https://reader036.vdocument.in/reader036/viewer/2022072011/56649e395503460f94b2ad55/html5/thumbnails/4.jpg)
Example
A poster costs $10.90. Tax rate 5%.
Tax: $10.90 x .05 = $0.545 rounded up to $0.55
Price with tax: $10.90 + $0.55 = $11.45