Sales Tax, Tip & Discount

Front

What is sales tax?

Back

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

Front

How do you calculate the sale price after a discount?

Back

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

Front

What is a tip?

Back

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

Front

How do you calculate the total cost after adding a tip?

Back

Total Cost = Bill Amount + (Tip Percentage × Bill Amount)

Front

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.

Front

How do you find the original price from a sale price and discount?

Back

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

Front

If an item costs $50 and has a 20% discount, what is the sale price?

Back

Sale Price = $50 - (20% × $50) = $40

Front

If a restaurant bill is $30 and you want to leave a 15% tip, how much is the tip?

Back

Tip = 15% × $30 = $4.50

Front

What is the formula to calculate sales tax?

Back

Sales Tax = Sale Price × Sales Tax Rate

Front

If a DVD costs $20 and the sales tax is 5%, what is the total cost?

Back

Total Cost = $20 + (5% × $20) = $21