Tax, Tip, Discount

Front

What is the formula to calculate the sale price after a discount?

Back

Sale Price = Original Price - (Original Price × Discount Rate)

Front

If an item costs $100 and has a 20% discount, what is the sale price?

Back

Sale Price = $100 - ($100 × 0.20) = $80

Front

What does 'discount' mean in terms of pricing?

Back

A discount is a reduction in the original price of an item.

Front

How do you calculate the amount of a discount?

Back

Amount of Discount = Original Price × Discount Rate

Front

What is a 'tip' in the context of service industries?

Back

A tip is a sum of money given to service workers as a reward for their service, typically calculated as a percentage of the total bill.

Front

If a meal costs $50 and you want to leave a 15% tip, how much should you tip?

Back

Tip = $50 × 0.15 = $7.50

Front

What is the purpose of sales tax?

Back

Sales tax is a tax imposed by the government on the sale of goods and services.

Front

How do you calculate sales tax on an item?

Back

Sales Tax = Price of Item × Sales Tax Rate

Front

If a TV costs $899 and the sales tax rate is 6.5%, how much tax do you pay?

Back

Tax = $899 × 0.065 = $58.44

Front

What is the total cost of an item including tax?

Back

Total Cost = Price of Item + Sales Tax