6th Grade VFMS Tax Tip Discount Flashcard

Front

What is the total cost of a movie ticket that costs $12.00 with a 6% sales tax?

Back

$12.72

Front

How do you calculate the total cost of a meal after leaving a tip?

Back

Add the tip (a percentage of the meal cost) to the original meal cost.

Front

If a jacket costs $150.00 and the sales tax is 7%, how much is the sales tax?

Back

$10.50

Front

What does 'discount' mean in terms of pricing?

Back

A discount is an amount subtracted from the original price.

Front

What is the difference between tax and tip?

Back

Tax is a percentage added to the cost of goods/services, while a tip is a percentage given for service.

Front

How do you calculate a 20% tip on a $52.40 dinner?

Back

Multiply $52.40 by 0.20 to get $10.48, then add it to the original cost.

Front

What is the formula to calculate sales tax?

Back

Sales Tax = Price x Sales Tax Rate.

Front

If a product costs $100 and has a 5% sales tax, what is the total cost?

Back

Total Cost = $100 + ($100 x 0.05) = $105.

Front

What does it mean to 'add' a percentage to a total?

Back

It means to increase the total amount by a certain percentage.

Front

How do you find the final price after applying a discount?

Back

Final Price = Original Price - Discount Amount.