Tax, Tip, Discount, Commission

Front

What is a discount?

Back

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

Front

How do you calculate the final price after applying a discount?

Back

To calculate the final price after a discount, subtract the discount amount from the original price.

Front

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

Back

The discount amount is $20.

Front

What is sales tax?

Back

Sales tax is a percentage added to the price of goods and services, collected by the seller and paid to the government.

Front

How do you calculate the final price including sales tax?

Back

To calculate the final price including sales tax, multiply the original price by the sales tax rate and add that amount to the original price.

Front

If a jacket costs $85 and has a 9% sales tax, what is the final price?

Back

The final price is $92.65.

Front

What is a commission?

Back

A commission is a fee paid to an agent or salesperson based on the sales they make, usually expressed as a percentage of the sale.

Front

If a salesperson earns a 10% commission on a $500 sale, how much do they earn?

Back

They earn $50.

Front

What does it mean to add sales tax to a price?

Back

Adding sales tax means increasing the original price by a certain percentage to account for tax obligations.

Front

What is the formula to find the total cost after tax?

Back

Total Cost = Original Price + (Original Price x Sales Tax Rate).