Sales tax, we all have to pay it. But how

do you calculate how much sales tax is? Hi, I’m jimmy Chang. I’ve been teaching college

mathematics for almost a decade. And we’re here to calculate sales tax. Now the one thing

that you definitely need of course, is. Is you need to find out from your county or state.

How much the sales tax rate is? It can be 7%, 8%, eight and a quarter. Five and half,

it all depends on what the tax happens to be. But you definitely need that number. Because

you’ll need it to figure out how much tax you’ll be paying on certain items. And it

will help you find out what the total is. And it will give you more insight as to why

the final totals are what they are. Now here’s a brief example, now. Suppose you have a sales

tax of 7%. First thing that you definitely need to do is take what ever percentage that

you are provided. And turn it into a decimal. That way, it will help you figure out how

much tax you’re actually paying on a particular item. Now because it is 7%. You take that

decimal and shift it to the left, two places. So 7% is actually another way of saying 0.07.

Now here’s an example of how to calculate how much sales tax you’re paying. The much

sought after Nintendo Wii costs two hundred and forty nine dollars and ninety nine cents,

retail. To figure how much tax you’ll be paying under the 7% sales tax. You simply take how

much the Wii is worth. 249.99 and multiply by 0.07. A calculator is very, very handy

here. But because we are talking about dollars and cents. You want to round to 2 decimal

places. So when you multiply those two numbers. You will get a grand total of a tax, a sales

tax of 17 dollars and 50 cents. But what if you wanted to figure out how much you would

be paying ahead of time. With tax as well as the total amount, with tax included. Well,

you’re still doing the same thing that we just did. But you always want to be sure that

instead of, in this case 0.07, put a 1as their front number. In other words, 1.07. Whenever

you put a 1 in front of the decimal. It will always give you the total. So if you want

to find out the total cost of the Wii including tax. You take, 249.99 and multiply by 1.07.

Notice that 1. That’s going to give you the total along with the tax. Now when you multiply,

you’re going to get a grand total of 267 dollars and 49 cents. And that’s going to give you

the grand total, tax included. So, my name is Jimmy Chang. And that’s an example as to

how you calculate sales tax with and without totals.

thankss

i live in ny too!!

i cant tell you but its not the city

Thank you so much jimmy chan.

Dude you rock. I wish my math teacher taught more like you!

your awesome

U smart

this is helpful i have a quiz tomrrow and im practicing

Thanks Jimmy! you certainly helped!!

lets say you already know the sales tax of a certain store, and you want to know how much you would be paying for an item plus tax ahead of time. well, what if the sales tax is already in decimal form such as 8.75%. my main question is, it is already in decimal form but yet, it is a percentage. do you have to change anything, or do you move it 2 places to the left from the existing period??!?! (please reply)

when I multiply 249.99 x 1.07 I got 267.48 how did you get 267.49

@pilot9159 round

My friend you are "STUPENDO FANTABULOUSLY FANTASTIC"…….. GOOD JOB, LOVE IT

Thank you for your help. After listening to several videos you are the only one who completely answered my question.

It will just be let's say 24.99 is your price, you just do 24.99 times 5.25 .

wow yur great

Thank you!! Very helpfull

Thank you so much dude! Helped a lot!

What a difference.

thank you!

I learn nothing in school for an hour and a half,but in a couple minutes this nice guy teaches me! Thank You Very Much!

Thanks bro

Thank u

Thak u

Thank you so much. My teacher would not take the time to teach me this.

ITS NOT 17.50. ITS 17.49. I DONT GET IT

can the you tube math instructors please break down the math problem by actually doing it instead of just telling the answer, tell how you came up with the answer

That's what he was talking about @ 1:32. You have to round off the second number to the right of the decimal. You got 17.499, right? So because the third number to the right (being 9) is higher than 5, that changes the 49 to 50.

thankyou SO MUCH

you know u can just add 17.50 to 249.99? Well of course you know that but I guess thats ur way of learning. ðŸ™‚

Thank you Jimmy you save me one step by adding the 1 in front of the decimal number. I'll be going over your financial videos.Â

Have a good one.

Thaaaaaaannnnnkkkkkk uuuuuuuu

tax in canada is so expensive its 13% !

Lol Ashley feel bad for u

ðŸ˜„ðŸ˜„ðŸ˜„ðŸ˜„ðŸ˜„ðŸ˜„ðŸ˜„ðŸ˜„

Was on my b day

Alameda county in California just jacked up its sales tax to 10%. Â

What a perfect way to put businesses out of business and destroy the local tax base, but libs still think that they can tax their way into prosperity.

Sales tax in Washington is 8%

Only If math didn't exist.. Life would be so much easier

What major teaches you these topics ?

omg!! thank you so much

LOL

Very helpful video. Helped me understand this whole sale tax thing.

Great video thanks really. Sometimes I get my formula correct but my answer is wrong because I don't pay attention to what I'm doing!

Thanks, Jimmy Chang!

God bless Asians ! Thank you!!

Thanks this really helped me LIFE SAVER!!!!!

Think you very much Sir

thank you

BRuh.

Thinks jimmy

In Indiana if the sales tax is 7% than that goes for anything you buy including books or groceries?

You take that decimal.

The mu

It cost R200 calculator handy what about the tax rate x by 1.07 you need a tan yeah

Hi momos

Ummm how old are you if you have been teaching for over a decade?ðŸ¤”LOLS

its easier just adding the tax to the price than Â multiplying 1.07…

It's 8.25% in Texas

Where were you when our computer system at McD's crashed, and I had to calculate the totals mentally?!

thank you so much dude <3

this was some great advice.

Who else was still confused at the end of the video.

Yeah I multiplied 249.99 by 1.07 and I came up with 267.48 so I was one cent off. Am i doing anything wrong?

Thank you!!

thank you so much i need to know about this and you help me thx so much and have an good one! Sir

9% in Palo Alto, CA.

Sorry professor you left out some important details. Letâ€™s use my home state… I stop at store in am I get gas and a coffie. We pay 37 cents tax on gas cause government says oil companyâ€™s are bad. Also pay 7percent sales tax on coffie. So for those of us who are not a professor thatâ€™s 44percent tax between my coffie and gas.. I have already paid fed at 32percent and state tax at 7 percent on the money Iâ€™m using to buy my gas and coffie so thatâ€™s taxed 2x. When said and done someone living in nj making 100grand a year will end up giving just about half to the real mob/ politicians.. call it fees charges tax itâ€™s my fruit from my labor not thereâ€™s. We are getting raped I hope you teach that cause the younger gen is in for one hell of a debt issue.. Iâ€™ll be dead with my money ðŸ’°

Anyone else studying for midterms??

THIS MAN KNOW ' S WHAT HE IS DOING