Tips, Tax, Discounts Review

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What is a discount?

Back

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

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How do you calculate a percentage discount?

Back

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

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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.

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

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First, calculate the discounted price by applying the discount. Then, calculate the sales tax on the discounted price and add it to the discounted price.

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What is a commission?

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A commission is a fee paid to an agent or salesperson based on the sales they generate, usually expressed as a percentage of the total sales.

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How do you calculate a commission?

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To calculate a commission, multiply the total sales amount by the commission rate (as a decimal).

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What is the difference between a percentage off and a commission?

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A percentage off is a reduction in price for a consumer, while a commission is a payment to a salesperson based on sales they make.

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If an item costs $100 and is 10% off, what is the discount amount?

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The discount amount is $10.

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If an item costs $200 and is 20% off, what is the final price after the discount?

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The final price is $160 after applying the discount.

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How do you compare two discounts to find the better deal?

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Calculate the final price for each discount and compare them; the lower final price is the better deal.