Tax, Tip, Discount

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What is a percent?

Back

A percent is a way to express a number as a fraction of 100. It is denoted by the symbol '%'. For example, 6.1% means 6.1 out of 100.

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How do you convert a decimal to a percent?

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To convert a decimal to a percent, multiply the decimal by 100 and add the percent symbol. For example, 0.061 x 100 = 6.1%.

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What is sales tax?

Back

Sales tax is a percentage added to the price of goods and services, collected by the seller and paid to the government. It is usually expressed as a percentage of the sale price.

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How do you calculate sales tax?

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To calculate sales tax, multiply the price of the item by the sales tax rate (as a decimal). For example, for a $899 TV with a 6.5% tax rate: $899 x 0.065 = $58.44.

Front

What is a discount?

Back

A discount is a reduction in the price of an item, usually expressed as a percentage of the original price.

Front

How do you calculate the amount of a discount?

Back

To calculate the amount of a discount, multiply the original price by the discount rate (as a decimal). For example, for a 20% discount on a $599.99 sofa: $599.99 x 0.20 = $119.998.

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How do you find the sale price after a discount?

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To find the sale price after a discount, subtract the discount amount from the original price. For example, if the original price is $599.99 and the discount is $119.998, the sale price is $599.99 - $119.998 = $479.992.

Front

What is the formula to calculate the final price after tax?

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The final price after tax can be calculated using the formula: Final Price = Sale Price + (Sale Price x Tax Rate).

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If an item costs $22.00 and has a 25% discount, how much do you save?

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To find the savings, calculate 25% of $22.00: $22.00 x 0.25 = $5.50.

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What is the sale price of an item after applying a discount?

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The sale price is calculated by subtracting the discount from the original price. For example, if a sweatshirt costs $55.00 and has a 25% discount, the sale price is $55.00 - ($55.00 x 0.25) = $41.25.