Tax, Tip & Discount

Front

What is a tip?

Back

A tip is a small amount of money given to someone for their service, usually 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 (e.g., for an 18% tip on a $75.45 bill, calculate 0.18 * 75.45).

Front

What is a discount?

Back

A discount is a reduction in the price of a product or service.

Front

How do you calculate a discount?

Back

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

Front

What does 'subtracted' mean in the context of discounts?

Back

'Subtracted' means to take away a certain amount from the original price.

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 sales tax?

Back

To calculate sales tax, multiply the price of the item by the sales tax rate (e.g., for an 8% tax on a $10 item, calculate 0.08 * 10).

Front

What is the total cost including tax?

Back

The total cost including tax is the sum of the original price and the sales tax.

Front

If a jacket costs $45 and is on sale for 15% off, what is the sale price?

Back

The sale price is $38.25 (calculated as $45 - (0.15 * 45)).

Front

What is the formula for calculating the final price after tax and shipping?

Back

Final Price = Original Price + (Original Price * Sales Tax Rate) + Shipping Cost.