Final Review: Fall 2024 12/06/24Sales Tax, Tips & Discounts

Front

What is sales tax?

Back

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

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How do you calculate the sale price after a discount?

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Sale Price = Regular Price - (Regular Price x Discount Rate).

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If an item costs $200 and has a 25% discount, what is the sale price?

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Sale Price = $200 - ($200 x 0.25) = $150.

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What is a tip?

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A tip is a small amount of money given to someone for their service, typically a percentage of the total bill.

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How do you calculate a tip?

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Tip = Total Bill x Tip Percentage.

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If Daniel's meal costs $28 and he leaves a 20% tip, how much is the tip?

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Tip = $28 x 0.20 = $5.60.

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What is the formula to convert a percentage to a decimal?

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To convert a percentage to a decimal, divide the percentage by 100.

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Convert 8.25% to a decimal.

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8.25% as a decimal is 0.0825.

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What is a discount?

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

Front

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

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Sale Price = $85 - ($85 x 0.40) = $51.