What is sales tax?
SALES TAX, TIP, AND DISCOUNT

Flashcard
•
Mathematics
•
7th Grade
•
Hard
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8 questions
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1.
FLASHCARD QUESTION
Front
Back
Sales tax is a percentage of the sale price that is added to the total cost of a purchase, collected by the government.
2.
FLASHCARD QUESTION
Front
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.
3.
FLASHCARD QUESTION
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.
4.
FLASHCARD QUESTION
Front
How do you calculate a tip?
Back
To calculate a tip, multiply the total bill by the tip percentage (expressed as a decimal).
5.
FLASHCARD QUESTION
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.
6.
FLASHCARD QUESTION
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.
7.
FLASHCARD QUESTION
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.
8.
FLASHCARD QUESTION
Front
What is the formula for calculating the final price after applying a discount?
Back
Final Price = Original Price - (Original Price x Discount Rate)
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