Tax, Tip & Discount

Front

What is a discount?

Back

A discount is a reduction in the original price of a product or service, often expressed as a percentage.

Front

How do you calculate the amount of money saved with a discount?

Back

To calculate the amount saved, multiply the original price by the discount percentage (in decimal form).

Front

If an item costs $50 and has a 20% discount, how much do you save?

Back

You save $10.

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 including sales tax?

Back

To calculate the total cost, multiply the original price by the sales tax rate (in decimal form) and add it to the original price.

Front

If a shirt costs $30 and the sales tax is 5%, what is the total cost?

Back

The total cost is $31.50.

Front

What is a tip?

Back

A tip is a small amount of money given to service workers as a reward for good service, often 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 (in decimal form).

Front

If a meal costs $40 and you want to leave a 15% tip, how much do you leave?

Back

You leave a $6 tip.

Front

What is the formula for calculating the final price after a discount?

Back

Final Price = Original Price - (Original Price x Discount Percentage).