Menu Math add/subtract decimals

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What is the process for calculating change when a customer pays with cash?

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To calculate change, subtract the total amount due from the amount paid by the customer. For example, if the total is $15.58 and the customer pays with $20, the change is $20 - $15.58 = $4.42.

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How do you calculate the total amount due including tax?

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To calculate the total amount due including tax, first find the subtotal (the price before tax), then multiply the subtotal by the tax rate to find the tax amount. Finally, add the tax amount to the subtotal. For example, if the subtotal is $15.58 and the tax is $1.75, the total is $15.58 + $1.75 = $17.33.

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What is a subtotal in a transaction?

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A subtotal is the total amount of a sale before any taxes or additional fees are added. It represents the sum of all items purchased.

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What is the significance of tax in a sales transaction?

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Tax is a percentage of the sale price that is added to the subtotal to contribute to government revenue. It is important for calculating the final amount a customer must pay.

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How do you determine the amount of tax from a subtotal?

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To determine the amount of tax from a subtotal, multiply the subtotal by the tax rate (expressed as a decimal). For example, if the subtotal is $15.58 and the tax rate is 7%, the tax amount is $15.58 * 0.07 = $1.09.

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What is the formula for calculating change?

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The formula for calculating change is: Change = Amount Paid - Total Amount Due.

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What is the importance of understanding decimals in financial transactions?

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Understanding decimals is crucial in financial transactions as it allows for accurate calculations of prices, taxes, and change, ensuring that customers and businesses handle money correctly.

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How do you add decimals when calculating totals?

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To add decimals, align the numbers by the decimal point and add as you would with whole numbers, carrying over any values as necessary. For example, to add $15.58 and $1.75, align them: 15.58 + 1.75 = 17.33.

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What is the role of a tax table in calculating sales tax?

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A tax table provides the applicable tax rates for different types of goods or services, helping to determine the correct amount of tax to apply to a subtotal.

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How can you verify the accuracy of your calculations in a transaction?

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To verify the accuracy of calculations, you can double-check each step, use a calculator, and ensure that all numbers are aligned correctly when adding or subtracting.