Discount, Sales Tax and Tip

Front

What is a discount?

Back

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

Front

How do you calculate the sale price after a discount?

Back

Sale Price = Original Price - (Discount Percentage × Original Price)

Front

What is sales tax?

Back

Sales tax is a percentage of the sale price of goods and services that is added to the total cost.

Front

How do you calculate sales tax?

Back

Sales Tax = Sale Price × Tax Rate

Front

What is a tip?

Back

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

Front

How do you calculate a tip?

Back

Tip = Total Bill × Tip Percentage

Front

If an item costs $100 and has a 20% discount, what is the sale price?

Back

Sale Price = $100 - ($100 × 0.20) = $80

Front

If a store marks up a product by 50% and the cost is $40, what is the selling price?

Back

Selling Price = Cost + (Markup Percentage × Cost) = $40 + ($40 × 0.50) = $60

Front

What is the total cost of an item priced at $50 with a 5% sales tax?

Back

Total Cost = Sale Price + Sales Tax = $50 + ($50 × 0.05) = $52.50

Front

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

Back

Tip = $30 × 0.15 = $4.50