Math 7 - Tax, Tip, and Commission HW

Front

What is sales tax?

Back

Sales tax is a percentage of the price of a product that is added to the total cost at the time of purchase.

Front

How do you calculate sales tax?

Back

To calculate sales tax, multiply the price of the item by the sales tax rate (as a decimal).

Front

If an item costs $100 and the sales tax rate is 5%, how much is the sales tax?

Back

$5.00 (calculated as $100 x 0.05).

Front

What is a commission?

Back

A commission is a fee paid to a salesperson for their services, usually calculated as a percentage of the sale.

Front

How do you calculate commission?

Back

To calculate commission, multiply the total sales amount by the commission rate (as a decimal).

Front

If a salesperson sells $500 worth of products and earns a 10% commission, how much do they earn?

Back

$50.00 (calculated as $500 x 0.10).

Front

What is a tip?

Back

A tip is a small amount of money given to someone for their service, often calculated 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).

Front

If a restaurant bill is $80 and you want to leave a 15% tip, how much is the tip?

Back

$12.00 (calculated as $80 x 0.15).

Front

What does it mean to convert a decimal to a percent?

Back

To convert a decimal to a percent, multiply the decimal by 100 and add a percent sign.