Sales Tax, Tip, and Discounts

Front

What is sales tax?

Back

A 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 sale price after a discount?

Back

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

Front

What is a tip?

Back

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

Front

How do you convert a percentage to a decimal?

Back

To convert a percentage to a decimal, divide the percentage by 100.

Front

What is the formula to calculate total cost including sales tax?

Back

Total Cost = Price + (Price × Sales Tax Rate) or Total Cost = Price × (1 + Sales Tax Rate)

Front

If an item costs $50 and has a sales tax of 8%, what is the total cost?

Back

Total Cost = $50 × (1 + 0.08) = $54.00

Front

What is the discount amount on an item priced at $80 with a 25% discount?

Back

Discount Amount = Regular Price × Discount Rate = $80 × 0.25 = $20.

Front

If a meal costs $30 and you want to leave a 15% tip, how much is the tip?

Back

Tip = Meal Cost × Tip Rate = $30 × 0.15 = $4.50.

Front

What is the final price of an item that costs $200 with a 10% discount?

Back

Final Price = $200 - ($200 × 0.10) = $180.

Front

How do you find the percentage of a number?

Back

Percentage = (Part / Whole) × 100.