Tax, Tip, Discount, Commission

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What is tax?

Back

A tax is a mandatory financial charge or levy imposed by a government on individuals or businesses to fund public services and infrastructure.

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How do you calculate tax on a purchase?

Back

To calculate tax, multiply the purchase price by the tax rate (as a decimal). For example, for a $100 item with a 6.5% tax rate, the tax is $100 x 0.065 = $6.50.

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What is a tip?

Back

A tip is a sum of money given to service workers (like waiters) as a reward for good service, typically calculated as a percentage of the total bill.

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How do you calculate a tip?

Back

To calculate a tip, multiply the total bill by the tip percentage (as a decimal). For example, for a $50 bill with a 20% tip, the tip is $50 x 0.20 = $10.

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What is a discount?

Back

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

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How do you calculate the final price after a discount?

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To calculate the final price after a discount, subtract the discount amount from the original price. For example, if an item costs $100 and has a 25% discount, the discount is $100 x 0.25 = $25, so the final price is $100 - $25 = $75.

Front

What is commission?

Back

Commission is a fee paid to an employee or agent for their services, typically calculated as a percentage of the sales they generate.

Front

How do you calculate commission?

Back

To calculate commission, multiply the total sales amount by the commission rate (as a decimal). For example, if a salesperson sells $1,000 worth of products with a 10% commission rate, their commission is $1,000 x 0.10 = $100.

Front

Convert 3.2% into a decimal.

Back

0.032

Front

If a jacket costs $85 and is on sale for 40% off, how much do you pay?

Back

$51