Sale Tax, Tip, Discount, Commission

Front

What is sales tax?

Back

Sales tax is a percentage of the sale price that is added to the total cost of a purchase, collected by the seller and paid to the government.

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How do you calculate sales tax?

Back

To calculate sales tax, multiply the sale price by the sales tax rate (as a decimal). For example, for a $100 item with a 7% tax rate: $100 x 0.07 = $7.

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 $50 bill with an 18% tip: $50 x 0.18 = $9.

Front

What is a discount?

Back

A discount is a reduction in the price of a product or service, often expressed as a percentage off the original price.

Front

How do you calculate the sale price after a discount?

Back

To find the sale price, subtract the discount amount from the original price. For example, if an item costs $100 and has a 20% discount: $100 - ($100 x 0.20) = $80.

Front

What is commission?

Back

Commission is a fee paid to an employee or agent based on the sales they make, usually expressed as a percentage of the total sales.

Front

How do you calculate commission?

Back

To calculate commission, multiply the total sales by the commission rate (as a decimal). For example, for $1,000 in sales with a 10% commission: $1,000 x 0.10 = $100.

Front

If a jacket costs $85 and is on sale for 40% off, how much do you pay?

Back

You pay $51. Calculation: $85 - ($85 x 0.40) = $51.

Front

If an item costs $649 and the sales tax is 7%, what is the total cost?

Back

The total cost is $694.43. Calculation: $649 + ($649 x 0.07) = $694.43.