Personal Financial Literacy>Calculating Sales Tax and Income Tax(TEKS.Math.7.13.A)
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Texas 7th Grade Math › Personal Financial Literacy>Calculating Sales Tax and Income Tax(TEKS.Math.7.13.A)
Sarah buys items totaling 45.60 dollars with 8.25% sales tax. What is the total amount Sarah pays?
53.85 dollars
83.22 dollars
49.36 dollars
45.60 dollars
Explanation
Sales tax is applied to the purchase subtotal. Compute the tax: $45.60 \times 0.0825 = 3.762 \approx 3.76$ dollars. Then add it to the subtotal: $45.60 + 3.76 = 49.36$ dollars total.
Marcus earns 12.50 dollars per hour working 25 hours per week. His income tax rate is 15%. How much income tax does Marcus pay weekly?
46.88 dollars
31.25 dollars
39.06 dollars
265.62 dollars
Explanation
First find weekly earnings: $12.50 \times 25 = 312.50$ dollars. Income tax is a percent of earnings: $312.50 \times 0.15 = 46.875 \approx 46.88$ dollars. Do not subtract unless asked for take-home pay.
A video game costs 59.99 dollars. The sales tax rate is 7.75%. What is the sales tax amount?
64.64 dollars
0.46 dollars
59.99 dollars
4.65 dollars
Explanation
Sales tax is the purchase subtotal times the tax rate: $59.99 \times 0.0775 = 4.649225 \approx 4.65$ dollars. The question asks for the tax amount, not the total price.
Lena earns a monthly salary of 2,800 dollars. Her income tax rate is 12%. How much income tax is withheld each month?
3,136 dollars
336 dollars
2,464 dollars
224 dollars
Explanation
Income tax is calculated from gross pay: $2{,}800 \times 0.12 = 336$ dollars withheld. Do not add this to the salary; it is the amount taken out.
A store purchase totals 82.40 dollars before tax. The sales tax rate is 6.5%. What is the total amount the customer pays?
87.76 dollars
82.40 dollars
5.36 dollars
88.90 dollars
Explanation
First find the tax on the pre-tax total: $82.40 \times 0.065 = 5.356 \approx 5.36$ dollars. Then add the tax to the subtotal: $82.40 + 5.36 = 87.76$ dollars.