Taxes, tips, discounts

Front

What is a 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

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 token of 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 a percentage increase?

Back

To calculate a percentage increase, subtract the original value from the new value, divide by the original value, and multiply by 100.

Front

If an item costs $100 and is marked up by 20%, what is the new price?

Back

$120

Front

How do you calculate a tip?

Back

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

Front

If a meal costs $50 and you want to leave a 15% tip, how much is the tip?

Back

$7.50

Front

What is the formula to calculate the sale price after a discount?

Back

Sale Price = Original Price - (Original Price x Discount Percentage)