Pls help me with this math!!! pls explain how this one is done!?

Question

a candy store, operating in a state with a sales tax of 4%, made 758 sales at $0.10; 862 sales at $0.35;685 sales at $0.49; 950 sales at $0.65; 575 sales at $0.75;and 712 sales at $0.90. how much did the store receive in sales taxes?

2. if the candy store in the previous problem computed the amt of state sales tax submitted to thje state based on 4% of gross sales, what would be the difference between the amount of tax the store collected and the amount it submitted to the state?

Answer 1

multy ply each of the sales by 4%.  for instance your first state sales is 758x$0.10=$75.80 the $75.80x.04= $3.03 then do the same to the other states,

Answer 2

Figure out the tax for each of the sale amounts

If I buy  $0.10 worth of candy and tax is 4%  Price I pay is

(0.10) x 1.04 = $0.104



[Multiply by 1.04 to compute the entire amount paid.

The "1" gives us the price of the item, and the 0.4 is the 4% tax.   If you just want to calculate the tax by itself - just leave out the "1"

(0.10)  x (0.04)  = 0.004, which is less than half a penny, so zero]

Well, we don't have any coins smaller than a penny, so this is rounded to 0.10, and there is no tax collected.

Total Gross sales = 758 x $0.10 = $75.80  Tax = $0.00

For the sales at $0.35, the total paid (including tax)  is

(0.35) x 1.04 = $0.364

Again we round off and get 36 cents - so 1 penny of tax per sale

Total Gross Sales = 862 x $0.35 = $301.70  

Tax = 862 x $0.01 = $8.62  

Continue the same way for the $0.49 sales  (0.5096 rounds to 0.51, so collect 51 cents, or 2 cents of tax per sale), $0.65 sales (collect 68 cents, 3 cents tax) $0.75 sales (collect 78 cents, 3 cents tax per sale), and $0.90 (collect 94 cents, or 4 cents tax per sale)

Then add up all the tax amounts

758 x 0 = 0

862 x 0.01 = 8.62

685 x 0.02 = 13.70

950 x 0.03 = 28.50

575 x 0.03 = 17.25

712 x 0.04 = 28.48

Total Tax collected = $96.55

For question two, just look at the total sales - without tax first.

758 x 0.10 = 75.80

862 x 0.35 = 301.70

685 x 0.49 = 335.65

950 x 0.65 = 617.50

575 x 0.75 = 431.25

712 x 0.90 = 640.80

Total sales = $2402.70

If we compute just the tax on this total amount  2402.70 x 0.04 = 96.108, which rounds to $96.11

If we collect and pay the tax on every sale - it is $96.55

And  lumping together a bunch of sales and commputing the tax gives us $96.11 - a difference of 44 cents ($0.44)

Answer 3

If this is a Business Math or Accounting problem the first two answers aren't correct.

Every state that I am aware of uses what is called a 'bracket system'. Which simply means that you can not simply multiply the sales amount by a percentage. Each state has what is usually called a Sales Tax Rate Table which breaks down what is the amount of tax due for each purchase price.

An example (I'll use Florida's (6%)...by rote I know it).

Price.....                               Tax due

.00 -.09...                                  0.00

.10 -.16...                                  0.01     (1 cent)

.17 - .33...                                 0.02

.34 - .50...                                 0.03

.51 - .66...                                 0.04

.67 - .83...                                 0.05

.84 - 1.09...                              0.06

1.10 - 1.16.                             0.07  

Etc.

So to answer your question you would have to know that state's sales tax rate table.

Hope this helps.