Percent Sales Tax & Discount

Front

What is a percent discount?

Back

A percent discount is a reduction in the price of an item expressed as a percentage of the original price.

Front

How do you calculate the sale price after a discount?

Back

Sale Price = Original Price - (Original Price × Discount Percentage)

Front

What is a tip?

Back

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

Front

How do you calculate a tip?

Back

Tip Amount = Total Bill × Tip Percentage

Front

What does it mean to round a number to the nearest cent?

Back

Rounding to the nearest cent means adjusting a number to two decimal places, which is standard for currency.

Front

How do you round $18.90843 to the nearest cent?

Back

$18.91

Front

What is sales tax?

Back

Sales tax is a percentage added to the price of goods and services, collected by the seller and paid to the government.

Front

How do you calculate the total cost including sales tax?

Back

Total Cost = Original Price + (Original Price × Sales Tax Percentage)

Front

If a pair of jeans costs $54 and the total is $58.32, what is the sales tax percentage?

Back

Sales Tax Percentage = ((Total Cost - Original Price) / Original Price) × 100 = 8%.

Front

What is the formula to find the original price after a discount?

Back

Original Price = Sale Price / (1 - Discount Percentage)