Tax, Tip, Discount

Front

What is a discount?

Back

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

Front

When you have a discount, do you add or subtract from the total?

Back

Subtract.

Front

What is sales tax?

Back

Sales tax is a percentage added to the price of goods and services, collected by the government.

Front

How do you calculate sales tax?

Back

Multiply the price of the item by the sales tax rate (as a decimal).

Front

If a meal costs $28.00 and you want to leave a 20% tip, how do you calculate the tip amount?

Back

Multiply $28.00 by 0.20 (20%) to find the tip.

Front

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

Back

Total Bill = Meal Cost + Tip Amount.

Front

What is a tip?

Back

A tip is an extra amount of money given to service workers for their service.

Front

How do you calculate the total cost of an item after applying a discount?

Back

Subtract the discount amount from the original price.

Front

If a television costs $900 and is on sale for 30% off, what is the sale price?

Back

Sale Price = Original Price - (Original Price x Discount Rate). Sale Price = $900 - ($900 x 0.30) = $630.

Front

What is the total amount paid if the price of an item is $124.95, with a 7% sales tax and $10 shipping?

Back

Total Amount = Item Price + (Item Price x Sales Tax Rate) + Shipping. Total Amount = $124.95 + ($124.95 x 0.07) + $10 = $143.70.