SOL Prep Calculating Tax, Tip, and Discount

Front

What is a tip?

Back

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

Tags

CCSS.6.RP.A.3C

Front

How do you calculate a tip?

Back

To calculate a tip, multiply the total bill by the tip percentage (expressed as a decimal). For example, for a $30 bill with a 15% tip: $30 x 0.15 = $4.50.

Tags

CCSS.6.RP.A.3C

Front

What is a discount?

Back

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

Tags

CCSS.6.RP.A.3C

Front

How do you calculate a discount?

Back

To calculate a discount, multiply the original price by the discount percentage (expressed as a decimal) and subtract that amount from the original price.

Tags

CCSS.6.RP.A.3C

Front

What does it mean to calculate tax?

Back

Calculating tax means determining the amount of money that must be paid to the government based on a percentage of the total cost of goods or services.

Tags

CCSS.6.RP.A.3C

Front

How do you calculate sales tax?

Back

To calculate sales tax, multiply the total cost of the item by the sales tax rate (expressed as a decimal). For example, for a $50 item with a 6% tax: $50 x 0.06 = $3.00.

Tags

CCSS.6.RP.A.3B

Front

If a meal costs $40 and the tax is 8%, what is the total cost including tax?

Back

Total cost = $40 + ($40 x 0.08) = $40 + $3.20 = $43.20.

Tags

CCSS.6.RP.A.3C

Front

What is the formula for calculating the total cost after tax and tip?

Back

Total cost = Original cost + (Original cost x Tax rate) + (Original cost x Tip rate).

Tags

CCSS.7.EE.B.3

Front

If a bill is $50 and you want to leave a 20% tip, how much is the tip?

Back

Tip = $50 x 0.20 = $10.

Tags

CCSS.6.RP.A.3C

Front

What is the difference between a tip and a discount?

Back

A tip is an additional amount given for service, while a discount is a reduction in the price of a product or service.

Tags

CCSS.6.RP.A.3C