SALES TAX, TIP, AND DISCOUNT

Front

What is sales tax?

Back

Sales tax is a percentage of the sale price of goods and services that is added to the total cost at the time of purchase.

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 (as a decimal) and then add that amount to the original price.

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

To calculate a tip, multiply the total bill by the tip percentage (as a decimal).

Front

What does it mean to round a number to the nearest cent?

Back

Rounding a number to the nearest cent means adjusting the number to two decimal places, which is the standard for currency.

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 saved with a discount?

Back

To calculate the amount saved with a discount, multiply the original price by the discount percentage (as a decimal).

Front

What is 12% as a decimal?

Back

12% as a decimal is 0.12.

Front

If a product costs $50 and has a sales tax of 8%, what is the total cost?

Back

Total cost = $50 + ($50 * 0.08) = $54.

Front

If you want to leave a 15% tip on a $40 meal, how much is the tip?

Back

Tip = $40 * 0.15 = $6.