Sales Tax, Tips, and Discounts Assignment

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 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 add that amount to the original price.

Front

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

Back

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

Front

What is a discount?

Back

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

Front

How do you calculate the amount of a discount?

Back

To calculate the amount of a discount, multiply the original price by the discount rate (as a decimal).

Front

If a shirt costs $40 and is on sale for 20% off, how much is the discount?

Back

Discount = $40 * 0.20 = $8.

Front

What is the final price after applying a discount?

Back

Final price = Original price - Discount amount.

Front

If an item costs $80 and has a 25% discount, what is the final price?

Back

Final price = $80 - ($80 * 0.25) = $60.

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).