Sales Tax Tip Commission Discount

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What is sales tax?

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A sales tax is a percentage of the sale price that is added to the cost of goods and services, collected by the seller and paid to the government.

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How do you calculate a tip?

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To calculate a tip, multiply the total bill amount by the tip percentage (as a decimal). For example, for an 18% tip on a $75.45 bill, calculate 75.45 x 0.18.

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What is a commission?

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

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How do you calculate commission earned?

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To calculate commission earned, multiply the total sales amount by the commission rate (as a decimal). For example, for $523,250 in sales at a 6% commission, calculate 523250 x 0.06.

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What is a discount?

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

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How do you calculate the sale price after a discount?

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To calculate the sale price, subtract the discount amount from the original price. For example, for an $85 jacket with a 40% discount, calculate 85 - (85 x 0.40).

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What is interest?

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Interest is the cost of borrowing money, usually expressed as a percentage of the principal amount over a specific period.

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How do you calculate simple interest?

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To calculate simple interest, use the formula: Interest = Principal x Rate x Time. For example, for a $300 loan at 25% for 3 months, calculate 300 x 0.25 x (3/12).

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What is the formula for calculating sales tax?

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The formula for calculating sales tax is: Sales Tax = Sale Price x Tax Rate (as a decimal). For example, for a $899 TV with a 6.5% tax, calculate 899 x 0.065.

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What is the total cost including tax?

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To find the total cost including tax, add the sales tax to the original price. For example, for a $899 TV with $58.44 tax, total cost = 899 + 58.44.