Tax, Tip, Discount

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.

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What is a tip?

Back

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

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 tax on a purchase?

Back

To calculate tax, multiply the purchase price by the tax rate (as a decimal). For example, if a shirt costs $20 and the tax rate is 5%, the tax is $20 x 0.05 = $1.

Front

How do you calculate a tip?

Back

To calculate a tip, multiply the total bill by the tip percentage (as a decimal). For example, if the bill is $50 and you want to leave a 15% tip, the tip is $50 x 0.15 = $7.50.

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How do you calculate a discount?

Back

To calculate a discount, multiply the original price by the discount rate (as a decimal) and subtract that amount from the original price. For example, if a $100 item has a 20% discount, the discount is $100 x 0.20 = $20, so the sale price is $100 - $20 = $80.

Front

What is the formula for finding the new balance after a deposit?

Back

New Balance = Old Balance + Deposit Amount.

Front

What is the formula for finding the new balance after a withdrawal?

Back

New Balance = Old Balance - Withdrawal Amount.

Front

Convert 0.061 to a percent.

Back

0.061 as a percent is 6.1%.

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Convert 73% to a decimal.

Back

73% as a decimal is 0.73.