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!

Treasure Hunt: How to Find Tax and Discount Using Percent of a Number

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?

  1. Identify the Original Price: The map costs \($50\).
  2. Calculate the Discount: The discount is \(20\)\(\%\) of \($50\), or \($10\). So the price after the discount is \($50\ – $10 = $40\).
  3. 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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