Treasure Hunt: How to Find Tax and Discount Using Percent of a Number
Hello, adventurous savers!
On today's adventure, we're not looking for hidden treasures but hidden savings! Tax and discount are two important factors in determining the final price of a product. Grab your compass and map; it's time to delve into the exciting world of percentages!
1. X Marks the Spot: Understanding Tax and Discount
Before we set sail, let’s understand these two key terms:
- Tax: An additional amount of money, usually a percentage, added to the purchase price.
- Discount: A reduction in price, often expressed as a percentage off the original price.
2. Sailing for Savings: How to Find Tax and Discount
With our treasure map in hand, let’s navigate the seas of savings!
Treasure Guide: Finding Tax and Discount
Step 1: Identify the Original Price
First, identify the original price of the item. This will be the listed price before tax and discount.
Step 2: Calculate the Discount
If a discount is offered, calculate the amount saved by multiplying the original price by the discount rate.
Step 3: Calculate the Tax
Then, calculate the tax by multiplying the price after the discount (if there is one) by the tax rate.
For instance, if you find a treasure map priced at \($50\) with a \(20\)\(\%\) discount and a \(5\)\(\%\) sales tax, how much would you pay?
- Identify the Original Price: The map costs \($50\).
- Calculate the Discount: The discount is \(20\)\(\%\) of \($50\), or \($10\). So the price after the discount is \($50\ – $10 = $40\).
- Calculate the Tax: The tax is \(5\)\(\%\) of \($40\), or \($2\). So the final price is \($40 + $2 = $42\).
There you have it, treasure hunters! You’ve successfully navigated the complex seas of taxes and discounts. Always remember, the path to the best deals might not be a straight line, but with a bit of calculation and deduction, you’ll find your way! Happy hunting!
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