Percents Conversions, Tax, Tip, & Commission

Front

What is a percent?

Back

A percent is a ratio expressed as a fraction of 100. It represents a part of a whole.

Front

How do you convert a percent to a decimal?

Back

To convert a percent to a decimal, divide the percent by 100. For example, 25% becomes 0.25.

Front

What is sales tax?

Back

Sales tax is a percentage of the sale price added to the cost of goods or services, collected by the seller.

Front

How do you calculate sales tax?

Back

To calculate sales tax, multiply the sale price by the sales tax rate (as a decimal). For example, for a $50 item with an 8% tax, the tax is $50 x 0.08 = $4.

Front

What is a tip?

Back

A tip is a small amount of money given to service workers for their service, usually expressed 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 (as a decimal). For example, for a $30 bill with a 15% tip, the tip is $30 x 0.15 = $4.50.

Front

What is commission?

Back

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

Front

How do you calculate commission?

Back

To calculate commission, multiply the total sales by the commission rate (as a decimal). For example, for $1,000 in sales with a 10% commission, the commission is $1,000 x 0.10 = $100.

Front

What is the formula for finding the total cost including tax?

Back

Total Cost = Original Price + (Original Price x Sales Tax Rate).

Front

What is the formula for finding the total cost including tip?

Back

Total Cost = Original Bill + (Original Bill x Tip Percentage).