Percent Vocabulary

Front

Sales tax is __________ to the price

Back

added

Front

An amount of money charged by a government on items that people buy

Back

sales tax

Front

Another word for gratuity is

Back

tip

Front

Mike used a coupon and only spent $13 instead of $22. What is this called?

Back

Discount

Front

Jamie got an extra $45 in his paycheck from his sales this week. What is this called?

Back

Commission

Front

What is the formula to calculate sales tax?

Back

Sales Tax = Price × Sales Tax Rate

Front

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

Back

Total Cost = $50 + ($50 × 0.08) = $54

Front

What does 'commission' refer to in sales?

Back

A commission is a fee paid to an employee based on the sales they make.

Front

What is a 'discount'?

Back

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

Front

What is the difference between sales tax and income tax?

Back

Sales tax is charged on purchases, while income tax is charged on earnings.