Sales Tax Tip Commission Discount

Front

What is sales tax?

Back

A sales tax is a percentage of the sale price that is added to the cost of goods and services, collected by the seller and paid to the government.

Tags

CCSS.6.RP.A.3C

Front

How do you calculate a tip?

Back

To calculate a tip, multiply the total bill amount by the tip percentage (as a decimal). For example, for an 18% tip on a $75.45 bill, calculate 75.45 x 0.18.

Tags

CCSS.6.RP.A.3C

Front

What is a commission?

Back

A commission is a fee paid to an agent or employee based on the sales they generate, usually expressed as a percentage of the sale.

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CCSS.6.RP.A.3B

Front

How do you calculate commission earned?

Back

To calculate commission earned, multiply the total sales amount by the commission rate (as a decimal). For example, for $523,250 in sales at a 6% commission, calculate 523250 x 0.06.

Tags

CCSS.7.RP.A.3

Front

What is a discount?

Back

A discount is a reduction in the price of a product or service, often expressed as a percentage of the original price.

Tags

CCSS.6.RP.A.3C

Front

How do you calculate the sale price after a discount?

Back

To calculate the sale price, subtract the discount amount from the original price. For example, for an $85 jacket with a 40% discount, calculate 85 - (85 x 0.40).

Tags

CCSS.6.RP.A.3C

Front

What is interest?

Back

Interest is the cost of borrowing money, usually expressed as a percentage of the principal amount over a specific period.

Tags

CCSS.7.RP.A.3

Front

How do you calculate simple interest?

Back

To calculate simple interest, use the formula: Interest = Principal x Rate x Time. For example, for a $300 loan at 25% for 3 months, calculate 300 x 0.25 x (3/12).

Tags

CCSS.7.RP.A.3

Front

What is the formula for calculating sales tax?

Back

The formula for calculating sales tax is: Sales Tax = Sale Price x Tax Rate (as a decimal). For example, for a $899 TV with a 6.5% tax, calculate 899 x 0.065.

Tags

CCSS.7.RP.A.3

Front

What is the total cost including tax?

Back

To find the total cost including tax, add the sales tax to the original price. For example, for a $899 TV with $58.44 tax, total cost = 899 + 58.44.

Tags

CCSS.6.RP.A.3D