A furniture store in The Pas, Manitoba, "All weekend, no GST and no PST." If GST and PST are usually 5% each, what is the actual saving as a percent on an item that costs $24.97?

Question

Mathematics

Scott Robinson

10 May, 08:29

A furniture store in The Pas, Manitoba, "All weekend, no GST and no PST." If GST and PST are usually 5% each, what is the actual saving as a percent on an item that costs $24.97?

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Answers (1)

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Ross Wise · Answer 1

5% can be modelled by the decimal 0.05. Since it's 5% each, you get taxed 10% of the total price which is modelled by 0.1. So 10% of the total price is what you save on the item. To find what the tax would cost, you multiply the price by 0.1.

24.97*0.1=2.497 which rounds to $2.50.