7.9 tax and tip review

Front

What is the formula to calculate a tip based on a percentage of the bill?

Back

Tip = Bill Amount × Tip Percentage

Front

If a dinner bill is $67.45 and the tip is 18%, how do you calculate the tip amount?

Back

Tip = $67.45 × 0.18 = $12.14

Front

What is the total cost of a meal including tip if the bill is $67.45 and the tip is 18%?

Back

Total Cost = Bill Amount + Tip = $67.45 + $12.14 = $79.59

Front

How do you calculate sales tax on a purchase?

Back

Sales Tax = Price × Sales Tax Rate

Front

If an item costs $24.95 and the sales tax is 7%, what is the sales tax amount?

Back

Sales Tax = $24.95 × 0.07 = $1.75

Front

What is the total cost of an item including sales tax if the price is $37.00 and the tax is 7%?

Back

Total Cost = Price + Sales Tax = $37.00 + ($37.00 × 0.07) = $39.59

Front

What is the difference between a tip and sales tax?

Back

A tip is a voluntary payment for service, while sales tax is a mandatory tax imposed by the government on purchases.

Front

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

Back

To convert a percentage to a decimal, divide by 100 (e.g., 15% = 15/100 = 0.15).

Front

If a family wants to leave a 15% tip on a $26 bill, how do you calculate the tip?

Back

Tip = $26 × 0.15 = $3.90

Front

What is the total amount paid if the bill is $26 and a 15% tip is added?

Back

Total Amount = Bill + Tip = $26 + $3.90 = $29.90