Tips, Tax, Discounts Review

Front

What does the standard 7.RP.3 focus on?

Back

The standard 7.RP.3 focuses on solving real-world problems involving ratios and proportional relationships, including calculating percentages, tips, taxes, and discounts.

Front

How do you calculate a percentage discount on an item?

Back

To calculate a percentage discount, multiply the original price by the discount percentage (as a decimal) and subtract that amount from the original price.

Front

What is the formula to calculate the total cost after tax?

Back

Total Cost = Original Price + (Original Price x Tax Rate) where Tax Rate is expressed as a decimal.

Front

How do you calculate a tip based on a meal's cost?

Back

To calculate a tip, multiply the total cost of the meal by the tip percentage (as a decimal).

Front

If an item costs $50 and is on sale for 20% off, what is the sale price?

Back

Sale Price = Original Price - (Original Price x Discount Percentage) = $50 - ($50 x 0.20) = $40.

Front

What is the total amount Sam owes if he leaves a 20% tip on a $20.50 meal?

Back

Total Amount = Meal Cost + Tip = $20.50 + ($20.50 x 0.20) = $24.60.

Front

How do you find the total cost of a service including tip and tax?

Back

Total Cost = Service Cost + (Service Cost x Tip Rate) + (Service Cost x Tax Rate).

Front

What is the total cost for Mrs. Smith if she pays $125 for a service, tips 15%, and tax is 6%?

Back

Total Cost = $125 + ($125 x 0.15) + ($125 x 0.06) = $151.25.

Front

What is the difference between a discount and a markup?

Back

A discount reduces the original price of an item, while a markup increases the original price.

Front

How do you calculate the amount of a tip if the bill is $26 and the tip percentage is 15%?

Back

Tip Amount = Bill Amount x Tip Percentage = $26 x 0.15 = $3.90.