What is sales tax?
Tax, Tip, Discount, Commission Day 2

Flashcard
•
Mathematics
•
7th Grade
•
Hard
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16 questions
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1.
FLASHCARD QUESTION
Front
Back
Sales tax is a percentage of the purchase price that is added to the total cost of an item, collected by the seller and paid to the government.
2.
FLASHCARD QUESTION
Front
How do you calculate the total cost of an item including sales tax?
Back
To calculate the total cost, multiply the item's price by the sales tax rate (as a decimal), then add that amount to the original price.
3.
FLASHCARD QUESTION
Front
If an item costs $100 and the sales tax rate is 6%, what is the total cost?
Back
Total cost = $100 + ($100 * 0.06) = $106.
4.
FLASHCARD QUESTION
Front
What is a tip?
Back
A tip is a small amount of money given to someone for their service, typically calculated as a percentage of the total bill.
5.
FLASHCARD QUESTION
Front
How do you calculate a tip?
Back
To calculate a tip, multiply the total bill by the tip percentage (as a decimal).
6.
FLASHCARD QUESTION
Front
If your bill is $50 and you want to leave a 20% tip, how much should you tip?
Back
Tip = $50 * 0.20 = $10.
7.
FLASHCARD QUESTION
Front
What is a discount?
Back
A discount is a reduction in the price of an item, usually expressed as a percentage of the original price.
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