Tax, Tip, and Discount

Front

What is a tip?

Back

A tip is a small amount of money given to someone for their service, usually 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). For example, a 15% tip on a $20 bill is $20 x 0.15 = $3.

Front

What is a discount?

Back

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

Front

How do you calculate the sale price after a discount?

Back

To find the sale price, subtract the discount amount from the original price. The discount amount is calculated by multiplying the original price by the discount percentage.

Front

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.

Front

How do you calculate the total cost after tax?

Back

To calculate the total cost after tax, multiply the original price by the sales tax rate (as a decimal) and add that amount to the original price.

Front

What is the formula for calculating a percentage?

Back

The formula for calculating a percentage is: (part/whole) x 100.

Front

If a meal costs $50 and the tip is 20%, how much is the tip?

Back

The tip is $10, calculated as $50 x 0.20.

Front

If an item costs $80 and has a 25% discount, what is the sale price?

Back

The sale price is $60, calculated as $80 - ($80 x 0.25).

Front

What does it mean to add sales tax to a price?

Back

Adding sales tax means increasing the original price by a certain percentage to find the total amount owed.