Question

assignment 13 - taxes

1. what would the taxes be for a jacket that is listed at $99.95 in nunavut, where the only tax is 5% gst?
2. tara is buying a new car in charlottetown, pei for $22 599. how much will the taxes be if the hst is 14%?
3. a return flight from cranbrook, b.c. to vancouver, b.c. costs $372.00. how much will each of the taxes be if the gst is 5% and the pst is 7%? what will the total cost of the ticket, including these taxes?
4. find the total cost of a washing machine that is sold for $944.98 in saskatchewan, where the pst is 6% and the gst is 5%.
5. a pair of jeans has a wholesale cost of $30. the jeans are marked up by 125%.

a) what is the dollar amount of the markup?
b) what is the retail cost of these jeans?
c) the tax rates are 5% gst and 6% pst. what are the taxes on the pair of jeans?
d) what is the final cost, including taxes?

Explanation:

Step1: Calculate GST for jacket

$\text{Tax} = 99.95 \times 0.05$

Step2: Calculate HST for car

$\text{Tax} = 22599 \times 0.14$

Step3: Calculate flight GST, PST, total

$\text{GST} = 372.00 \times 0.05$
$\text{PST} = 372.00 \times 0.07$
$\text{Total Cost} = 372.00 + 18.60 + 26.04$

Step4: Calculate washer total cost

$\text{Total Tax Rate} = 0.06 + 0.05 = 0.11$
$\text{Total Cost} = 944.98 \times (1 + 0.11)$

Step5a: Calculate jeans markup

$\text{Markup} = 30 \times 1.25$

Step5b: Calculate jeans retail cost

$\text{Retail Cost} = 30 + 37.50$

Step5c: Calculate jeans taxes

$\text{Total Tax Rate} = 0.05 + 0.06 = 0.11$
$\text{Taxes} = 67.50 \times 0.11$

Step5d: Calculate jeans final cost

$\text{Final Cost} = 67.50 + 7.43$

Answer:

1. $\$4.9975 \approx \$5.00$
2. $\$3163.86$
3. GST: $\$18.60$, PST: $\$26.04$, Total Cost: $\$416.64$
4. $\$1048.93$

5a) $\$37.50$
5b) $\$67.50$
5c) $\$7.43$
5d) $\$74.93$