Percent Application

Front

What is sales tax?

Back

Sales tax is a percentage of the sale price of goods or services that is collected by the seller and paid to the government.

Front

How do you calculate sales tax?

Back

To calculate sales tax, multiply the price of the item by the sales tax rate (as a decimal). For example, for an item costing $34 with an 8.5% tax: $34 x 0.085 = $2.89.

Front

What does 'percent off' mean?

Back

'Percent off' refers to a discount expressed as a percentage of the original price. For example, a 40% off sale means you pay 60% of the original price.

Front

How do you calculate the sale price after a discount?

Back

To find the sale price after a discount, multiply the original price by the discount percentage (as a decimal) and subtract that amount from the original price.

Front

What is a tip?

Back

A tip is a small amount of money given to someone for their service, typically calculated as a percentage of the total bill.

Front

How do you calculate a tip?

Back

To calculate a tip, multiply the total bill by the tip percentage (as a decimal). For example, for a $12 meal with a 25% tip: $12 x 0.25 = $3.

Front

What is a discount rate?

Back

The discount rate is the percentage by which the original price of an item is reduced during a sale.

Front

How do you find the discount amount?

Back

To find the discount amount, multiply the original price by the discount rate (as a decimal). For example, for a jacket originally priced at $85 with a 40% discount: $85 x 0.40 = $34.

Front

How do you calculate the final price after applying a discount?

Back

To calculate the final price after a discount, subtract the discount amount from the original price. For example, $85 - $34 = $51.

Front

What is the formula for calculating percent change?

Back

Percent change = (New Value - Old Value) / Old Value x 100%.