Percents (tax, tips, and discounts)

Front

What is a percent?

Back

A percent is a way to express a number as a fraction of 100. It is often used to compare ratios and express how much of something there is in relation to a whole.

Front

How do you calculate a tip?

Back

To calculate a tip, multiply the total bill amount by the tip percentage (expressed as a decimal). For example, for a $20 bill with a 20% tip: $20 x 0.20 = $4.

Front

What is the formula to calculate tax?

Back

To calculate tax, multiply the price of the item by the tax rate (expressed as a decimal). For example, for a $899 TV with a 6.5% tax: $899 x 0.065 = $58.43.

Front

How do you find the percent decrease?

Back

To find the percent decrease, subtract the new value from the original value, divide by the original value, and multiply by 100. For example, if gas prices drop from $4 to $3.80: ((4 - 3.80) / 4) x 100 = 5%.

Front

What is a discount?

Back

A discount is a reduction in the regular price of an item, often expressed as a percentage. For example, a 40% discount on a $174 item means you save $69.60.

Front

How do you calculate the sale price after a discount?

Back

To calculate the sale price, subtract the discount amount from the original price. For example, for a $174 item with a 40% discount: $174 - ($174 x 0.40) = $104.40.

Front

What is the relationship between fractions and percents?

Back

Percents are a specific type of fraction where the denominator is always 100. For example, 25% is equivalent to 25/100 or 1/4.

Front

How do you convert a percent to a decimal?

Back

To convert a percent to a decimal, divide the percent by 100. For example, 20% becomes 0.20.

Front

How do you convert a decimal to a percent?

Back

To convert a decimal to a percent, multiply the decimal by 100. For example, 0.25 becomes 25%.

Front

What is the formula for calculating the final price after tax?

Back

Final Price = Original Price + (Original Price x Tax Rate). For example, for a $899 TV with a 6.5% tax: Final Price = $899 + ($899 x 0.065) = $957.44.