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Say you paid $21 for an item that had a 20% discount and a sales tax of 5%. RP = regular prince = to be determined DR = discount rate = 20% = 0.2 DP = discounted price = (100% - DR) x RP = (1.00 - DR) x RP STR = sales tax rate = 5% = 0.05 PP = purchase price = $21 $21 = DP + (STR x DP) = DP + 0.05DP = 1.05DP $21 = 1.05DP $21/1.05 = DP DP = $21/1.05 DP = $20 DISCOUNTED PRICE DP = $20 = (1.00 - 0.20) x RP (1.00 - 0.20) x RP = $20 (0.80) x RP = $20 0.8RP = $20 RP = $20/0.8 RP = $25 REGULAR PRICE
What else can I help you with?
If a price is 1500 and the sales taxes 5 percent what is the total cost?
The total with sales tax is 1,575.00
What is the definition of base price in math?
It means the price, before applying taxes, discounts, or other things that might change the final price for the customer.
How much is taxes on a new car in Oklahoma?
Exise tax is 3.25% of the retail sale price. No sales taxes.
HOW DO you RECOrd sales discount?
Sales discounts are being recorded apart from the invoices and are written in the sales activity report. Recording the sales discount quick and properly ensures accurate documentation for handling taxes and revenues of business owners.
Do you pay taxes when buying a tractor?
It depends on the state you live in. If your state has sales tax, you would pay them on the sales price.
I paid 90.40 How much was the product before 8 percent taxes?
sales price = 90.40 / 1 + 8% sales price = 90.40 / 1.08 sales price = 83.70 the #1 is the figurative element that was taken the 8% tax out
What is the total cost of a CD player with a selling price of 150.?
It would be $150.00 + any applicable sales taxes. If it were ordered online it would be $150.00 + applicable sales taxes + shipping & handling + insurance.
Is sales tax built into sticker price of used car?
No, sales tax is not built into the sticker price of a used car in the US. Taxes are included in some other countries.
Do you pay sales tax in Michigan on purchase price of used car or the MSRP?
You would pay the taxes on the actual price you paid for the car. If it was 10000 then you would pay the taxes on that not the list price. Hope this helps
How is sales tax calculated?
This depends on where you are. There is no Federal sales tax, but there are state and local taxes in some places. Usually it is a percentage of the purchase price.
Why do I need to pay tax on inventory that was already paid?
This really needs a little more information in order to answer this question. Are you talking about sales tax, income taxes, property taxes, etc. For instance, if you are talking about property taxes, you probably didn't pay taxes on t when you bought it or at least you didn't pay property taxes. With sales taxes, you may have paid sales tax on the inventory when you bought it but that's not the way you are supposed to do sales tax. What a business does when they buy items they plan to resale, is that they will not pay sales tax when they purchase the items but will collect sales tax when it is sold to the end user, thereby calculating tax based on the higher value being the retail sales price instead of the wholesale price.
Why are taxes and discounts are based on percents?
Because it's easier for the person doing the shopping to calculate their taxes or discounts.
