Ok here's the problem. There's a sale going on at one of my favorite store. I recieved a 20% off coupon. I found something I wanted that costs around $120 dollars. Sales tax here in California is 7.750%. Don't know if I have enough money but, before I go out and purchase the stuff, I need to know step by step on how to find the grand total (after tax and after the 20% off)? Please help as the sale and coupon is going to expire in a few day. Please make steps as simple as possible as I'm really stupid when it comes to math. Thanks alot in advance.
2007-07-19 10:55:47 · 18 answers · asked by West Coast 916 2 in Business & Finance ➔ Personal Finance
$120 * .20 = $24 off
$120 - $24 = $96
$96 * .0775 = $7.44 tax
$96 + 7.44 = $103.44 final price
2007-07-19 11:00:39 · answer #1 · answered by Anonymous · 1⤊ 2⤋
Percent means "per 100".
20% off means you pay 80% (100 - 20).
$120 x 80% (.80) = $96.
Tax = $96 x 7.75% = $7.44.
Total = $96 + $7.44 = $103.44.
2007-07-19 19:46:41 · answer #2 · answered by STEVEN F 7 · 1⤊ 0⤋
You have a 20% off coupon, so you are really paying 80% of the cost of the item. $120 x 80% (120 * .8) = $96.
Since the cost of the item is $96, you find what the 7.75% sales tax to that is. $96 x 7.75% (96 * 0.0775) = $7.44.
Add the cost ($96) and the tax ($7.44) and you have your total. $96 + $7.74 = $103.44.
We could've skipped a step or two (1.0775*(120*0.8)), but you wanted it spelled out.
Hope this helps!
2007-07-19 18:05:34 · answer #3 · answered by qdaddyo 2 · 2⤊ 2⤋
To see the discount 20% of 120 is 0.20(120) = 24
So subtract 24 from 120 and this is the cost, 96.
The tax is done the same way but it is added.
7.75% of 96 is .0775(96) is 7.44.
So the final cost is 96+7.44 or $103.44
Notice that I moved the decimal of the percent two places to the left before I multiply.
2007-07-19 18:03:09 · answer #4 · answered by Ron H 6 · 1⤊ 2⤋
J*'s answer is kinda right depending on your state. He might be 100% right.
In Utah and most states I know of, I dont know california. You pay the Tax on the entire amount before the discount. So your example its 120 dollars.
Example 1.
$120.00 (item)
$9.30 (taxes off the 120 original price)
$96.00 (final price of the item after our 20% coupon)
Take the tax from the 120 dollars at $9.30 add it to your $96.00 and you have a price of.....
$105.30
Example 2
Lets say your state doenst charge taxes on some items or coupons (very rare)
$120.00 (item)
$96.00 (final price that is taxes, instead of the 120)
$7.44 (taxes... bases on the 96 dollars instead of the 120)
Total cost.
$103.44
***** update ******
I checked your state. My first example is right. Only one other person got it before me. She/he was right. Its $105.30.
2007-07-19 18:13:54 · answer #5 · answered by financing_loans 6 · 1⤊ 2⤋
Discounts are applied before taxes often.
120 x .2 = discounted amount (24 dollars)
or get the grand total.
120 x .0775 = X or 129.30
X + 120 = Grand total (129.30)
Grand total x .2 = Discounted amount. (or 103.44)
2007-07-19 17:59:37 · answer #6 · answered by Anonymous · 1⤊ 1⤋
Maan, well you $120 x 20% = $24
Then $120 - $24 = $96
Then $96 x 1.0775 = $103.44
So it will cost $103.44 after the discount with tax.
2007-07-19 18:02:49 · answer #7 · answered by Jose H 1 · 1⤊ 2⤋
Here is how I do it. If it's 20% then substract .20 from 1 and you get .80. Then multiply it by the number .80x120=96. Then add taxes which you do tha same way. Add .0775 to one and multiply it by the number, i.e. 1.0775x96=103.44.
2007-07-19 18:02:58 · answer #8 · answered by Gustav 5 · 1⤊ 2⤋
Multiply $120 by .80, that will give you the price after coupon ($96), then multiply that by 1.0775 to get the price after tax ($103.44)
2007-07-19 18:01:00 · answer #9 · answered by redtony 2 · 1⤊ 2⤋
First of all, you're not an idiot.
Second of all, Only two people got you the right answer. The other answerers had a one track mind. And that was "THEIR state tax laws".
2007-07-19 23:31:33 · answer #10 · answered by ♥~♥devilwithbleudress♥~♥ 6 · 1⤊ 1⤋