Evelyn Went Shopping For A New Pair Of Pants. Sales Tax Where She Lives Is 4%. The Price Of The Pair Of Pants Is $33. Find The Total Price Including Tax. Round To The Nearest Cent.

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Introduction

In everyday life, we often encounter situations where we need to calculate the total price of a purchase, taking into account sales tax. In this article, we will explore how to calculate the total price of a purchase, using a real-life example. We will use the scenario of Evelyn, who is shopping for a new pair of pants, to illustrate the concept.

Understanding Sales Tax

Sales tax is a type of tax levied on the sale of goods and services. It is typically a percentage of the purchase price, and it varies depending on the location. In Evelyn's case, the sales tax where she lives is 4%. This means that for every dollar she spends, she will pay an additional 4 cents in sales tax.

Calculating the Total Price

To calculate the total price of a purchase, we need to add the sales tax to the original price of the item. In this case, the original price of the pair of pants is $33. To calculate the sales tax, we multiply the original price by the sales tax rate (4% or 0.04).

Sales tax = Original price x Sales tax rate
Sales tax = $33 x 0.04
Sales tax = $1.32

Finding the Total Price

Now that we have calculated the sales tax, we can find the total price by adding the sales tax to the original price.

Total price = Original price + Sales tax
Total price = $33 + $1.32
Total price = $34.32

Rounding to the Nearest Cent

Since we are dealing with money, we need to round the total price to the nearest cent. In this case, the total price is $34.32, which is already rounded to the nearest cent.

Conclusion

In conclusion, calculating the total price of a purchase involves adding the sales tax to the original price. By using a real-life example, we have demonstrated how to calculate the total price of a purchase, taking into account sales tax. We have also shown how to round the total price to the nearest cent.

Real-World Applications

Calculating the total price of a purchase is an essential skill in everyday life. It is used in various situations, such as:

  • Shopping: When shopping, we need to calculate the total price of the items we purchase, including sales tax.
  • Budgeting: When creating a budget, we need to consider the total price of the items we purchase, including sales tax.
  • Financial planning: When planning our finances, we need to consider the total price of the items we purchase, including sales tax.

Tips and Tricks

Here are some tips and tricks to help you calculate the total price of a purchase:

  • Use a calculator: When calculating the total price, use a calculator to ensure accuracy.
  • Round to the nearest cent: When rounding the total price, round to the nearest cent to avoid errors.
  • Consider sales tax: When calculating the total price, always consider sales tax to ensure accuracy.

Common Mistakes

Here are some common mistakes to avoid when calculating the total price of a purchase:

  • Forgetting to add sales tax: Failing to add sales tax to the original price can result in an incorrect total price.
  • Rounding incorrectly: Rounding the total price incorrectly can result in an incorrect total price.
  • Not considering sales tax: Failing to consider sales tax can result in an incorrect total price.

Conclusion

Q&A: Calculating the Total Price of a Purchase

Q: What is sales tax?

A: Sales tax is a type of tax levied on the sale of goods and services. It is typically a percentage of the purchase price, and it varies depending on the location.

Q: How do I calculate the sales tax?

A: To calculate the sales tax, you need to multiply the original price of the item by the sales tax rate. For example, if the original price is $33 and the sales tax rate is 4%, the sales tax would be $33 x 0.04 = $1.32.

Q: How do I find the total price?

A: To find the total price, you need to add the sales tax to the original price. For example, if the original price is $33 and the sales tax is $1.32, the total price would be $33 + $1.32 = $34.32.

Q: Why do I need to round the total price to the nearest cent?

A: You need to round the total price to the nearest cent because money is typically rounded to the nearest cent. This ensures accuracy and avoids errors.

Q: What are some common mistakes to avoid when calculating the total price?

A: Some common mistakes to avoid when calculating the total price include:

  • Forgetting to add sales tax
  • Rounding incorrectly
  • Not considering sales tax

Q: How can I use a calculator to calculate the total price?

A: You can use a calculator to calculate the total price by multiplying the original price by the sales tax rate and then adding the sales tax to the original price.

Q: What are some real-world applications of calculating the total price?

A: Some real-world applications of calculating the total price include:

  • Shopping
  • Budgeting
  • Financial planning

Q: How can I ensure accuracy when calculating the total price?

A: You can ensure accuracy when calculating the total price by:

  • Using a calculator
  • Rounding to the nearest cent
  • Considering sales tax

Q: What are some tips and tricks for calculating the total price?

A: Some tips and tricks for calculating the total price include:

  • Using a calculator
  • Rounding to the nearest cent
  • Considering sales tax

Conclusion

In conclusion, calculating the total price of a purchase involves adding the sales tax to the original price. By using a real-life example, we have demonstrated how to calculate the total price of a purchase, taking into account sales tax. We have also shown how to round the total price to the nearest cent. By following the tips and tricks outlined in this article, you can avoid common mistakes and ensure accuracy when calculating the total price of a purchase.

Frequently Asked Questions

  • Q: What is the formula for calculating the total price? A: The formula for calculating the total price is: Total price = Original price + Sales tax
  • Q: How do I calculate the sales tax rate? A: The sales tax rate is typically a percentage of the purchase price, and it varies depending on the location.
  • Q: Why do I need to consider sales tax when calculating the total price? A: You need to consider sales tax when calculating the total price because it is a type of tax levied on the sale of goods and services.

Additional Resources

  • Calculating Sales Tax: A step-by-step guide to calculating sales tax.
  • Understanding Sales Tax: A comprehensive guide to understanding sales tax.
  • Calculating the Total Price: A tutorial on calculating the total price of a purchase.