Discount and sales tax

Front

What is a discount?

Back

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

Front

How do you calculate the amount of discount?

Back

To calculate the amount of discount, multiply the original price by the discount percentage (in decimal form). For example, for a 10% discount on a $15 item: $15 x 0.10 = $1.50.

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 total cost including sales tax?

Back

To calculate the total cost including sales tax, multiply the original price by the sales tax rate (in decimal form) and add it to the original price. For example, for a $10 item with a 5% sales tax: $10 + ($10 x 0.05) = $10.50.

Front

What is the formula for finding the sale price after a discount?

Back

Sale Price = Original Price - Discount Amount.

Front

If an item costs $50 and is on sale for 20% off, what is the sale price?

Back

Sale Price = $50 - ($50 x 0.20) = $50 - $10 = $40.

Front

What does '40% off' mean?

Back

'40% off' means that the price of an item is reduced by 40% of its original price.

Front

How do you convert a percentage to a decimal?

Back

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

Front

If a product originally costs $80 and has a 15% discount, what is the discount amount?

Back

Discount Amount = $80 x 0.15 = $12.

Front

What is the total cost of an item priced at $30 with a 5% sales tax?

Back

Total Cost = $30 + ($30 x 0.05) = $30 + $1.50 = $31.50.