Tax, Tip and Discount

Front

What is the formula to calculate the total bill including tip?

Back

Total Bill = Cost of Meal + (Tip Percentage × Cost of Meal)

Front

If a meal costs $50 and the tip is 15%, how much is the tip?

Back

Tip = 0.15 × $50 = $7.50

Front

What is the sales tax rate applied to a purchase?

Back

Sales tax is a percentage of the purchase price added to the total cost.

Front

How do you calculate the total cost of an item including sales tax?

Back

Total Cost = Price of Item + (Sales Tax Rate × Price of Item)

Front

If an item costs $100 and the sales tax is 5%, what is the total cost?

Back

Total Cost = $100 + (0.05 × $100) = $105

Front

What does it mean to 'add sales tax' to a price?

Back

It means to increase the original price by a certain percentage to account for tax.

Front

If a chair costs $425 and the sales tax is 8.2%, how much sales tax is paid?

Back

Sales Tax = 0.082 × $425 = $34.85

Front

What is the final price of an item after applying a sales tax of 7% on a $39.99 item?

Back

Final Price = $39.99 + (0.07 × $39.99) = $42.79

Front

What is a tip and how is it typically calculated?

Back

A tip is a gratuity given for service, usually calculated as a percentage of the total bill.

Front

If Daniel's meal cost $28.00 and he leaves a 20% tip, what is his total bill?

Back

Total Bill = $28.00 + (0.20 × $28.00) = $33.60