Discounts,Tips. Tax, Commission, Simple Interest

Front

What is sales tax?

Back

Sales tax is a percentage of the purchase price added to the cost of goods and services, collected by the seller and paid to the government.

Front

How do you calculate the final price including sales tax?

Back

Final Price = Original Price + (Original Price × Sales Tax Rate)

Front

What is a discount?

Back

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

Front

How do you calculate the sale price after a discount?

Back

Sale Price = Original Price - (Original Price × Discount Rate)

Front

What is a tip?

Back

A tip is a small amount of money given to service workers in addition to the basic price of a service, often expressed as a percentage of the total bill.

Front

How do you calculate a tip?

Back

Tip = Total Bill × Tip Percentage

Front

What is commission?

Back

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

Front

How do you calculate commission?

Back

Commission = Total Sales × Commission Rate

Front

What is simple interest?

Back

Simple interest is a method of calculating the interest charge on a loan or investment based on the principal amount, the interest rate, and the time period.

Front

How do you calculate simple interest?

Back

Simple Interest = Principal × Rate × Time