Sales Tax, Tips & Discounts

Front

What is sales tax?

Back

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

Front

How do you calculate the amount of sales tax?

Back

To calculate sales tax, multiply the purchase price by the sales tax rate (as a decimal).

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 a tip?

Back

To calculate a tip, multiply the total bill by the tip percentage (as a decimal).

Front

What does 'discount' mean?

Back

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

Front

How do you calculate the final price after a discount?

Back

To find the final price after a discount, subtract the discount amount from the original price.

Front

Convert 8.25% to a decimal.

Back

0.0825

Front

If a jacket costs $85.00 and is 40% off, how much do you pay?

Back

$51.00

Front

What is the formula to find the final price including sales tax?

Back

Final Price = Original Price + (Original Price × Sales Tax Rate) or Final Price = Original Price × (1 + Sales Tax Rate).

Front

If a T.V. costs $990 with a 9% sales tax, what is the final price?

Back

$1,079.10