I learned a lot in this unit. This unit helped me gained more knowledge about taxes and sales. In real life, my mom asked me how much this jacket at GAP was. I told her the right amount with the 25% off sale and the PST and GST. When we went to the cashier, I was right. =) I felt so proud of myself.
Before I never knew about how to do all these taxes and sales. But I'm so happy I learned about it. This unit really helps me a lot especially in real life.
We learned about finding the unit price of one. Like for example,
At a fruit and vegetable stand, a dozen apples sells for $2.50. What is the price of one apple?
$2.50 / 12 = $0.21
So the unit price of one apple is $0.21
Then we learned about GST, PST, HST.
GST stands for Goods and Services Tax
PST stands for Provincial Sales Tax
HST stands for Harmonized Sales Tax. Harmonized Sales Tax is a combination of federal and provincial tax.
Here is an example of how to find GST and PST.
A customer purchases a new suit. The price of the suit is $285.00. What is the cost to the customer after GST and PST are added? The suit is purchased in Ontario.
Price of suit is $285.00
Now find GST and PST by converting the percent to decimal place. A reminder that PST in Ontario is 8%
GST - 6% / 100 = 0.06
PST - 8% / 100 = 0.08
Now multiply the price of the suit with the GST and then PST.
GST - $285.00 * 0.06 = $17.10
PST - $285.00 * 0.08 = $22.80
Now add the taxes together.
$17.10 + $22.80 = $39.90
Now add the price of the suit and the total taxes.
$285.00 + $39.90 = $ 324.90
And now, your done =)
Now here is an example of calculating HST.
Paul went to an electronic store and bought a CD player advertized at $450.00, a set of speakers at $235.00, and a portable telephone at $189.00. How much did he have to pay altogether including taxes? He bought these items in Nova Scotia.
Add all the prices together first.
$450.00 + $235.00 + $189.00 = $874.00
Now find HST of the total price of all the items that is being bought. HST in Nova Scotia is 14%
HST - $874.00 * 0.14 = $122.36
Add the total price of the items being bought and HST.
$874.00 + $122.36 = $996.36
Et Votre Fait! Yay! ( And Your Done! Yay! ) Hehe.
We also learned about the golden ratio.
Thursday, December 6, 2007