Consumer Math #1

Front

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

Back

Price after discount = Original Price - (Original Price × Discount Rate)

Front

How do you calculate sales tax on a discounted price?

Back

Sales Tax = Discounted Price × Sales Tax Rate

Front

What is a discount?

Back

A discount is a reduction in the original price of a product.

Front

If a sofa costs $599.99 and has a 20% discount, what is the discounted price?

Back

Discounted Price = $599.99 - ($599.99 × 0.20) = $479.99

Front

What is the total cost of an item after applying a 6% sales tax on a discounted price of $479.99?

Back

Total Cost = $479.99 + ($479.99 × 0.06) = $508.79

Front

What does it mean to add sales tax to a price?

Back

Adding sales tax means increasing the price of an item by a certain percentage to account for tax.

Front

What is the commission rate?

Back

The commission rate is the percentage of sales that is paid to an employee as a commission.

Front

How do you calculate total earnings from sales?

Back

Total Earnings = Sales × Commission Rate

Front

If the commission rate is 5.5% and sales are $18,200, what are the total earnings?

Back

Total Earnings = $18,200 × 0.055 = $1,001

Front

What is the difference between the regular price and the sale price?

Back

The regular price is the original price before any discounts, while the sale price is the price after discounts are applied.