Multi-step tax, tip, discount problems

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What is a commission?

Back

A commission is a fee paid to an employee based on the sales they make, usually expressed as a percentage of the sales amount.

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How do you calculate a commission?

Back

To calculate a commission, multiply the total sales amount by the commission rate (as a decimal). For example, if the sales are $3,740 and the commission rate is 12%, the commission is $3,740 x 0.12 = $448.80.

Front

What is a discount?

Back

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

Front

How do you calculate the final price after a discount?

Back

To calculate the final price after a discount, subtract the discount amount from the original price. For example, if an item costs $50 and has a $10 discount, the final price is $50 - $10 = $40.

Front

What is sales tax?

Back

Sales tax is a percentage of the sale price that is added to the cost of a product or service, collected by the seller and paid to the government.

Front

How do you calculate sales tax?

Back

To calculate sales tax, multiply the sale price by the sales tax rate (as a decimal). For example, if the sale price is $275 and the sales tax rate is 8.5%, the sales tax is $275 x 0.085 = $23.38.

Front

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

Back

Total Cost = Original Price + Sales Tax. First, calculate the sales tax, then add it to the original price.

Front

What is a coupon?

Back

A coupon is a voucher that provides a discount on a specific product or service, often reducing the price by a fixed amount.

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How do you apply a coupon to a purchase?

Back

To apply a coupon, subtract the coupon value from the original price before calculating sales tax. For example, if an item costs $50 and has a $10 coupon, the new price is $50 - $10 = $40.

Front

What is a multi-step problem?

Back

A multi-step problem requires more than one calculation or operation to arrive at the final answer, often involving multiple concepts like discounts, taxes, and commissions.