Post on 14-Dec-2015
Calculating Taxes on Purchases
Math 8Ms. Stewart
Outcome: B3 Create and solve problems which involve finding a, b, or c in the relationship a% of b = c, using estimation and calculation
COPY BLUE TEXT
Harmonized Tax In Nova Scotia, you must pay HST
(Harmonized Sales Tax) on some purchases. The HST is 15% of the purchase price.
What does it mean to have a Harmonized Sales Tax?We pay a portion of the tax to the provincial government and a portion to the federal government.
Why are these taxes collected from consumers?
To pay for services provided by our provincial and federal governments
Health Care
Infrastructure/
Roads
Parks
Schools/Education
Police/Legal System
Snow Removal
Method 1: Calculate the tax first, then add.
Amount of tax = 15% of original cost = 15 x 25 100 = 0.15 x 25
= $3.75The tax is $3.75
Final price = Original cost + Amount of tax
= $25 + 3.75
The final price is $28.75
Method 2: Multiply the original cost by a percent greater than 100.
Final price = 115% of original cost
115% = 1.15 (move the decimal 2 places to the left to convert)
1.15 X 25
The final price is $28.75
The final price is the 100% of the original price plus 15% of the original price for the tax, or 115% in total.
Assignment
From the flyers, choose 1 object and calculate the total cost of the item (including taxes) using Method 1
From the flyers, choose 1 object and calculate the total cost of the item (including taxes) using Method 2
From the flyers choose 3 objects and calculate the total cost of all the items using your choice of method (be sure to include a subtotal before calculating the tax)
SHOW ALL WORK AND CALCULATIONS!