Task 7 - Percent Word Problems: Tax, Tip, Discount

Front

What is a percent?

Back

A percent is a ratio expressed as a fraction of 100. It represents a part of a whole.

Front

How do you calculate a percentage of a number?

Back

To calculate a percentage of a number, multiply the number by the percentage (in decimal form). For example, to find 20% of 50, calculate 50 x 0.20 = 10.

Front

What is a tax?

Back

A tax is a percentage of a purchase price that is added to the total cost, usually collected by the government.

Front

How do you calculate the total cost after tax?

Back

To calculate the total cost after tax, multiply the original price by the tax rate (in decimal form) and add it to the original price. For example, for a $100 item with a 5% tax: Total = 100 + (100 x 0.05) = $105.

Front

What is a tip?

Back

A tip is a small amount of money given to service workers, usually 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 (in decimal form). For example, for a $50 bill with a 15% tip: Tip = 50 x 0.15 = $7.50.

Front

What is a discount?

Back

A discount is a reduction in the original price of an item, usually expressed as a percentage.

Front

How do you calculate the sale price after a discount?

Back

To calculate the sale price after a discount, subtract the discount amount from the original price. For example, for a $100 item with a 20% discount: Discount = 100 x 0.20 = $20; Sale Price = 100 - 20 = $80.

Front

What is the formula for calculating the amount saved?

Back

The amount saved can be calculated by multiplying the original price by the savings percentage (in decimal form). For example, if you save 30% on a $200 item: Amount Saved = 200 x 0.30 = $60.

Front

How do you find the original price before a discount?

Back

To find the original price before a discount, divide the sale price by (1 - discount rate in decimal form). For example, if the sale price is $70 after a 30% discount: Original Price = 70 / (1 - 0.30) = $100.