SALES TAX, TIP, AND DISCOUNT

Front

What is sales tax?

Back

Sales tax is a percentage of the sale price that is added to the total cost of a purchase, collected by the government.

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How do you calculate the sale price after a discount?

Back

To calculate the sale price after a discount, subtract the discount amount from the original price.

Front

What is a tip?

Back

A tip is a small amount of money given to service workers, typically calculated as a percentage of the total bill.

Front

How do you calculate a tip?

Back

To calculate a tip, multiply the total bill by the tip percentage (expressed as a decimal).

Front

What does it mean to round to the nearest cent?

Back

Rounding to the nearest cent means adjusting a monetary amount to two decimal places, where the second decimal place represents cents.

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.

Front

How do you find the total cost including sales tax?

Back

To find the total cost including sales tax, multiply the original price by the sales tax rate and add that amount to the original price.

Front

What is the formula for calculating the final price after applying a discount?

Back

Final Price = Original Price - (Original Price x Discount Rate)