What is sales tax?
Sales Tax, Tip, and Discounts

Flashcard
•
Mathematics
•
12th Grade
•
Hard
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1.
FLASHCARD QUESTION
Front
Back
A sales tax is a percentage of the sale price of goods and services that is collected by the seller and paid to the government.
2.
FLASHCARD QUESTION
Front
How do you calculate the sale price after a discount?
Back
Sale Price = Regular Price - (Regular Price × Discount Rate)
3.
FLASHCARD QUESTION
Front
What is a tip?
Back
A tip is a sum of money given to someone for their service, typically calculated as a percentage of the total bill.
4.
FLASHCARD QUESTION
Front
How do you convert a percentage to a decimal?
Back
To convert a percentage to a decimal, divide the percentage by 100.
5.
FLASHCARD QUESTION
Front
What is the formula to calculate total cost including sales tax?
Back
Total Cost = Price + (Price × Sales Tax Rate) or Total Cost = Price × (1 + Sales Tax Rate)
6.
FLASHCARD QUESTION
Front
If an item costs $50 and has a sales tax of 8%, what is the total cost?
Back
Total Cost = $50 × (1 + 0.08) = $54.00
7.
FLASHCARD QUESTION
Front
What is the discount amount on an item priced at $80 with a 25% discount?
Back
Discount Amount = Regular Price × Discount Rate = $80 × 0.25 = $20.
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