Tax and Tip

Front

What is sales tax?

Back

Sales tax is a percentage of the sale price of goods and services that is collected by the seller and paid to the government.

Tags

CCSS.6.RP.A.3C

Front

How do you calculate sales tax?

Back

To calculate sales tax, multiply the cost of the item by the sales tax rate (as a decimal). For example, for a $100 item with a 7% tax rate: $100 x 0.07 = $7.

Tags

CCSS.6.RP.A.3B

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.6.3

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 cost of the service by the tip percentage (as a decimal). For example, for a $50 meal with a 15% tip: $50 x 0.15 = $7.50.

Tags

CCSS.6.RP.A.3C

Front

If an item costs $200 and the sales tax is 5%, what is the total cost?

Back

Total cost = Item cost + Sales tax = $200 + ($200 x 0.05) = $200 + $10 = $210.

Tags

CCSS.6.RP.A.3C

Front

If a meal costs $80 and you want to leave a 20% tip, how much is the tip?

Back

Tip = Meal cost x Tip percentage = $80 x 0.20 = $16.

Tags

CCSS.6.RP.A.3C

Front

What is the total cost of an item including tax?

Back

Total cost = Item cost + Sales tax.

Tags

CCSS.6.RP.A.3C

Front

If the sales tax is 8% and the item costs $50, how much is the sales tax?

Back

Sales tax = Item cost x Sales tax rate = $50 x 0.08 = $4.

Tags

CCSS.6.RP.A.3C

Front

What is the formula to find the total cost after tax?

Back

Total cost = Item cost x (1 + Sales tax rate). For example, for a $100 item with a 7% tax: Total cost = $100 x (1 + 0.07) = $107.

Tags

CCSS.6.RP.A.3C

Front

If you leave a 15% tip on a $40 meal, what is the total amount paid?

Back

Total amount = Meal cost + Tip = $40 + ($40 x 0.15) = $40 + $6 = $46.

Tags

CCSS.6.RP.A.3C