In this video you will learn how to calculate the final price when you have a sales tax, and how to calculate the original price given the sales tax and the final price.
Welcome to moomoomath where we upload a new math video everyday. This first problem involves a price of 45 dollars, and a sales tax percentage of 7 %. I will use the percent formula original price + ( original price x tax) = Total Price
Original price = 45 add 45 times 7 % and I'm going to convert that to a decimal by moving the decimal two places to the left which will equal .07
Next 45 x .07 = 3.15. Bring the 45 down and add it to 3.15 and the final price equals 48.15
Next, we have a price of 25 dollars and a tax of 3%
I will use the formula, original price + ( original price x tax) = Total Price
Let's plug in what I know 25 + (25 x .03) again move the decimal place two places to the left.
25 x .03 = 75 cents, bring the 25 down and this will equal 25.75
So the final price of 25 dollars and 3 % sales tax equals 25.75
We have a final product of 25.75 and a 3 % sales tax.
We want to know what is the original price?
We will use our formula, original price + ( original price x tax) = Total Price
Plug in what we know
We know the original price is x
We x times the sales tax of .03 equals the final price of 25.75
I will put a 1 in front of the x so you can see what I'm doing.
Multiply x times .03 which equals .03x
1x + .03x = 25.75
Combine 1x and .03x which equals 1.03x = 25.75
Divide each side by 1.03 to get rid of 1.03 and 25.75 divided by 1.03 and this equals 25
So our original price will be $25
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Tagged under: percentages,tax,calculating percent,math,elementary math
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