Tax, Tip, Discount

Front

What is the formula to calculate the total cost of a meal including tip?

Back

Total Cost = Meal Cost + (Tip Percentage × Meal Cost)

Front

If a meal costs $50 and the tip is 15%, how much is the tip?

Back

Tip = 0.15 × 50 = $7.50

Front

What does it mean when a tip is added to the total cost?

Back

It means the tip is calculated as a percentage of the meal cost and is added to the original price.

Front

How do you calculate the total cost of an item after applying sales tax?

Back

Total Cost = Item Price + (Sales Tax Rate × Item Price)

Front

If an item costs $100 and the sales tax is 8%, what is the total cost?

Back

Total Cost = 100 + (0.08 × 100) = $108.

Front

What is a discount?

Back

A discount is a reduction in the original price of an item, usually expressed as a percentage.

Front

How do you calculate the sale price after a discount?

Back

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

Front

If a television costs $800 and is on sale for 25% off, what is the sale price?

Back

Sale Price = 800 - (0.25 × 800) = $600.

Front

What is the difference between a tip and a discount?

Back

A tip is an additional amount paid for service, while a discount reduces the price of an item.

Front

How do you find the percentage of a number?

Back

Percentage of a Number = (Percentage Rate × Number) / 100.