Tax And Discount Quiz! Trivia

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| By Margecrump
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Margecrump
Community Contributor
Quizzes Created: 9 | Total Attempts: 36,503
Questions: 12 | Attempts: 3,540

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Tax And Discount Quiz! Trivia - Quiz

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Questions and Answers
  • 1. 

    What is the full cost of an item that costs $9.00 with a 7% sales tax?

    • A.

      $9.70

    • B.

      $9.63

    • C.

      $13.60

    • D.

      7.89

    Correct Answer
    B. $9.63
    Explanation
    The full cost of an item that costs $9.00 with a 7% sales tax is $9.63. This can be calculated by adding the sales tax amount to the original cost. The sales tax amount is calculated by multiplying the original cost ($9.00) by the sales tax rate (7% or 0.07). Thus, $9.00 multiplied by 0.07 equals $0.63. Adding this sales tax amount to the original cost gives us a total cost of $9.63.

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  • 2. 

    What is the full cost of an item that costs $16.00 with a 7% sales tax?

    • A.

      $14.90

    • B.

      $16.07

    • C.

      $17.12

    • D.

      $ 23.00

    Correct Answer
    C. $17.12
    Explanation
    The full cost of an item that costs $16.00 with a 7% sales tax is $17.12. To calculate this, we need to add the sales tax amount to the original cost. The sales tax is calculated by multiplying the original cost ($16.00) by the sales tax rate (7% or 0.07). Therefore, the sales tax amount is $16.00 x 0.07 = $1.12. Adding this to the original cost gives us $16.00 + $1.12 = $17.12.

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  • 3. 

    What is the full cost of an item that costs $23.00 with a 5% sales tax?

    • A.

      $24.15

    • B.

      $18.00

    • C.

      $28.00

    • D.

      $24.50

    Correct Answer
    A. $24.15
    Explanation
    The full cost of an item that costs $23.00 with a 5% sales tax is $24.15. To calculate this, we need to add the sales tax amount to the original cost. The sales tax amount can be found by multiplying the original cost ($23.00) by the sales tax rate (5% or 0.05). 0.05 multiplied by $23.00 equals $1.15. Adding this to the original cost gives us $23.00 + $1.15 = $24.15.

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  • 4. 

    What is the full cost of an item that costs $17.23 with a 6% sales tax?

    • A.

      $17.29

    • B.

      $18.27

    • C.

      $17.15

    • D.

      $ 18.26

    Correct Answer
    D. $ 18.26
    Explanation
    The full cost of an item that costs $17.23 with a 6% sales tax is $18.26. The sales tax is calculated by multiplying the cost of the item by the tax rate (6% or 0.06), which in this case is $1.03. Adding this tax to the original cost gives us a total of $18.26.

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  • 5. 

    What is the cost of an item priced regularly for $10.00 that now has a 60% discount?

    • A.

      $14.00

    • B.

      $6.00

    • C.

      $ 4.00

    • D.

      $16.00

    Correct Answer
    C. $ 4.00
    Explanation
    The cost of the item priced regularly for $10.00 with a 60% discount can be calculated by multiplying the original price by the discount percentage (60%) and subtracting it from the original price. In this case, 60% of $10.00 is $6.00, so the discounted price would be $10.00 - $6.00 = $4.00.

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  • 6. 

    What is the cost of an item priced regularly for $50.00 that now has a 20% discount?

    • A.

      $30.00

    • B.

      $80.00

    • C.

      $40.00

    • D.

      $48.00

    Correct Answer
    C. $40.00
    Explanation
    The cost of the item priced regularly for $50.00 with a 20% discount can be calculated by subtracting 20% of $50.00 from $50.00. 20% of $50.00 is $10.00, so subtracting $10.00 from $50.00 gives us $40.00. Therefore, the cost of the item with the discount is $40.00.

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  • 7. 

    What is the cost of an item priced regularly for $60.00 that now has a 20% discount?

    • A.

      $40.00

    • B.

      $48.00

    • C.

      $80.00

    • D.

      $58.00

    Correct Answer
    B. $48.00
    Explanation
    The cost of an item priced regularly for $60.00 that now has a 20% discount can be calculated by subtracting 20% of $60.00 from $60.00. 20% of $60.00 is $12.00, so subtracting $12.00 from $60.00 gives us $48.00.

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  • 8. 

    What is the cost of an item priced regularly for   $62.49 that now has a 40% discount?

    • A.

      $249.96

    • B.

      $22.49

    • C.

      $37.49

    • D.

      $25.00

    Correct Answer
    C. $37.49
    Explanation
    The cost of the item priced regularly for $62.49 with a 40% discount can be calculated by multiplying the regular price by (100% - discount percentage). In this case, (100% - 40%) = 60%, so the cost of the item would be 60% of $62.49. This can be calculated as $62.49 * 0.60 = $37.49. Therefore, the correct answer is $37.49.

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  • 9. 

    What is the cost of an item priced regularly for $834.59 that now has a 100% discount?

    • A.

      $83.35

    • B.

      $ 8.34

    • C.

      IT'S FREE!

    • D.

      $0.83

    Correct Answer
    C. IT'S FREE!
    Explanation
    The item is priced regularly at $834.59. A 100% discount means that the item is being given away for free. Therefore, the cost of the item is free.

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  • 10. 

    When an item is discounted you will always pay   __________________  the original price. 

    • A.

      More than

    • B.

      Less than

    • C.

      The same as

    Correct Answer
    B. Less than
    Explanation
    When an item is discounted, it means that the price of the item has been reduced from its original price. Therefore, you will always pay less than the original price when an item is discounted.

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  • 11. 

    When an item is taxed you will always pay   __________________  the  listed price. 

    • A.

      More than

    • B.

      Less than

    • C.

      The same as

    Correct Answer
    A. More than
    Explanation
    When an item is taxed, you will always pay more than the listed price. This is because the tax amount is added to the original price, increasing the total amount you have to pay. Therefore, the final price you pay will be higher than the listed price of the item.

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  • 12. 

    What is the price of a shirt that regularly sells for $25.39 that is on sale for 70% off the regular price?

    • A.

      $27.75

    • B.

      $7.61

    • C.

      $17.77

    • D.

      $ 7.62

    Correct Answer
    D. $ 7.62
    Explanation
    The regular price of the shirt is $25.39. The sale price is calculated by taking 70% off the regular price. To find the sale price, we multiply $25.39 by 0.70, which gives us $17.773. Rounding this to the nearest cent, we get $17.77. Therefore, the correct answer is $17.77, not $7.62.

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  • Current Version
  • Mar 22, 2023
    Quiz Edited by
    ProProfs Editorial Team
  • May 18, 2011
    Quiz Created by
    Margecrump

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