Tax, Tip, and Discount

Front

What is sales tax?

Back

Sales tax is a percentage of the purchase price added to the cost 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

Final Price = Original Price + (Original Price × Sales Tax Rate)

Front

If a T.V. costs $990 and has a sales tax of 9%, what is the final price?

Back

$1,079.10

Front

What is a tip?

Back

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

Front

How do you calculate a tip?

Back

Tip = Total Bill × Tip Percentage

Front

If a restaurant bill is $50 and you want to leave a 15% tip, how much is the tip?

Back

$7.50

Front

What is a discount?

Back

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

Front

How do you calculate the final price after a discount?

Back

Final Price = Original Price - (Original Price × Discount Rate)

Front

If a laptop costs $800 and has a 20% discount, what is the final price?

Back

$640

Front

What is commission?

Back

Commission is a fee paid to an employee based on the sales they generate, usually expressed as a percentage.