Tax/Tip/Discount/Commission

Front

What is tax?

Back

A tax is a mandatory financial charge or levy imposed by a government on individuals or businesses to fund public services and infrastructure.

Front

How do you calculate the total cost including tax?

Back

To calculate the total cost including tax, multiply the original price by the tax rate (as a decimal), then add that amount to the original price. Formula: Total Cost = Original Price + (Original Price x Tax Rate).

Tags

CCSS.7.RP.A.3

Front

What is a tip?

Back

A tip is a small amount of money given to someone for their service, typically in the hospitality industry, as a way to show appreciation.

Tags

CCSS.RI.6.5

CCSS.RI.7.3

CCSS.RI.7.5

CCSS.RI.8.3

CCSS.RI.8.5

Front

How do you calculate a tip?

Back

To calculate a tip, multiply the total bill amount by the tip percentage (as a decimal). Formula: Tip Amount = Total Bill x Tip Percentage.

Tags

CCSS.6.RP.A.3C

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.

Tags

CCSS.6.RP.A.3C

Front

How do you calculate the sale price after a discount?

Back

To calculate the sale price after a discount, subtract the discount amount from the original price. Formula: Sale Price = Original Price - Discount Amount.

Tags

CCSS.6.RP.A.3B

Front

What is commission?

Back

Commission is a fee paid to an employee or agent for their services, usually calculated as a percentage of the sales they generate.

Tags

CCSS.6.RP.A.3C

Front

How do you calculate commission?

Back

To calculate commission, multiply the total sales amount by the commission rate (as a decimal). Formula: Commission = Total Sales x Commission Rate.

Tags

CCSS.6.RP.A.3B

Front

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

Back

The sale price is $80. (Calculation: $100 - ($100 x 0.20) = $80).

Tags

CCSS.6.RP.A.3C

Front

If a meal costs $30 and you want to leave a 15% tip, how much is the tip?

Back

The tip is $4.50. (Calculation: $30 x 0.15 = $4.50).

Tags

CCSS.6.RP.A.3C