Taxes and tips percents!!

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.

Tags

CCSS.RI.6.3

CCSS.RI.6.5

CCSS.RI.7.3

CCSS.RI.7.5

CCSS.RI.8.3

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 token of 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 percentage of a total amount?

Back

To calculate a percentage, divide the part by the whole and then multiply by 100. For example, to find 20% of $50, calculate (20/100) * 50 = $10.

Tags

CCSS.6.RP.A.3C

Front

What is the formula to calculate the total cost including tax?

Back

Total Cost = Original Price + (Original Price x Tax Rate). For example, if the original price is $100 and the tax rate is 7%, Total Cost = 100 + (100 x 0.07) = $107.

Tags

CCSS.6.RP.A.3C

Front

How do you calculate a tip based on a percentage?

Back

To calculate a tip, multiply the total bill by the tip percentage. For example, for a $50 bill with a 15% tip, Tip = 50 x 0.15 = $7.50.

Tags

CCSS.6.RP.A.3C

Front

What is the difference between a fixed percentage and a variable percentage?

Back

A fixed percentage remains constant regardless of the total amount, while a variable percentage can change based on different conditions or amounts.

Tags

CCSS.6.RP.A.3C

Front

If a meal costs $80 and the tax is 8%, what is the total cost?

Back

Total Cost = 80 + (80 x 0.08) = 80 + 6.40 = $86.40.

Tags

CCSS.6.RP.A.3C

Front

What is the importance of understanding taxes and tips in daily life?

Back

Understanding taxes and tips helps individuals manage their finances better, make informed decisions when dining out, and comply with legal obligations.

Tags

CCSS.6.RP.A.3B

Front

How do you convert a percentage to a decimal?

Back

To convert a percentage to a decimal, divide by 100. For example, 15% as a decimal is 15/100 = 0.15.

Front

What is a sales tax?

Back

Sales tax is a tax imposed on the sale of goods and services, usually calculated as a percentage of the purchase price.

Tags

CCSS.6.RP.A.3B