Percent Vocabulary

Front

What is sales tax?

Back

A sales tax is an amount of money charged by a government on items that people buy.

Front

What does a tip or gratuity refer to?

Back

A tip or gratuity is an extra amount of money given to service workers for their service.

Front

True or False: Tips are added to the total bill.

Back

True

Front

What is a commission?

Back

A commission is the percent a salesman earns on a sale.

Front

What is another word for gratuity?

Back

Tip

Front

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

Back

Total cost = $50 + ($50 * 0.08) = $54.

Front

What is a discount?

Back

A discount is a reduction in the price of an item.

Front

If a product originally costs $100 and is on a 20% discount, what is the sale price?

Back

Sale price = $100 - ($100 * 0.20) = $80.

Front

What is income tax?

Back

Income tax is a tax imposed on individuals or entities based on their income.

Front

What is a rebate?

Back

A rebate is a partial refund to someone who has paid too much for tax, rent, or a utility.