Sales Tax, Tips, and Discounts Assignment

Front

What is sales tax?

Back

Sales tax is a percentage of the sale price of goods and services that is collected by the seller and paid to the government.

Front

How do you calculate the discount amount?

Back

To calculate the discount amount, multiply the original price by the discount percentage (in decimal form).

Front

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

Back

Sale Price = Original Price - Discount Amount.

Front

If an item is on sale for 25% off, how do you express this as a decimal?

Back

25% as a decimal is 0.25.

Front

What is the total cost of an item including sales tax?

Back

Total Cost = Item Price + (Item Price x Sales Tax Rate).

Front

How do you calculate the final price of an item after applying sales tax?

Back

Final Price = Original Price x (1 + Sales Tax Rate).

Front

What is a tip, and how is it typically calculated?

Back

A tip is a gratuity given for services, usually calculated as a percentage of the total bill.

Front

How do you calculate a 5% tip on a $50 meal?

Back

5% of $50 is calculated as $50 x 0.05 = $2.50.

Front

What is the difference between a discount and a sale price?

Back

A discount is the amount subtracted from the original price, while the sale price is the final price after the discount is applied.

Front

How do you convert a percentage to a decimal for calculations?

Back

To convert a percentage to a decimal, divide the percentage by 100.