Multi-Step Tips, Tax, Discounts SY24-25

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 calculate the final price after a discount?

Back

To calculate the final price after a discount, subtract the discount amount from the original price. Discount Amount = Original Price x Discount Rate.

Front

What is sales tax?

Back

Sales tax is a percentage of the sale price of goods and services that is collected by the seller and paid to the government.

Front

How do you calculate the total cost including sales tax?

Back

To calculate the total cost including sales tax, multiply the original price by the sales tax rate and add that amount to the original price. Total Cost = Original Price + (Original Price x Sales Tax Rate).

Front

What is a tip?

Back

A tip is a small amount of money given to someone for their service, typically expressed as a percentage of the total bill.

Front

How do you calculate the total cost including a tip?

Back

To calculate the total cost including a tip, multiply the original bill by the tip percentage and add that amount to the original bill. Total Cost = Original Bill + (Original Bill x Tip Percentage).

Front

What is the formula for calculating the percentage of a number?

Back

Percentage of a number = (Percentage Rate / 100) x Number.

Front

How do you compare two discounts to find the better deal?

Back

To compare two discounts, calculate the final price for each option after applying the discount and compare the final prices.

Front

What is the difference between a percentage discount and a flat discount?

Back

A percentage discount reduces the price by a certain percentage, while a flat discount reduces the price by a fixed dollar amount.

Front

If an item costs $100 and has a 20% discount, what is the final price?

Back

Final Price = $100 - ($100 x 0.20) = $80.