Tax, Tip, & Discount Review

Front

What is a discount?

Back

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

Front

How do you calculate a percentage discount?

Back

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

Front

If a jacket costs $45 and has a 15% discount, how much is the discount?

Back

$6.75

Front

What is sales tax?

Back

Sales tax is a percentage of the sale price added to the cost 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 total cost of the items by the sales tax rate (as a decimal).

Front

If you buy Christmas presents for $58.50 and the sales tax is 6.5%, how much do you spend in total?

Back

$62.30

Front

What is a tip?

Back

A tip is a small amount of money given to someone for their service, often 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

If a family spends $65 on a meal and tips 15%, how much is the tip?

Back

$9.75

Front

What is the difference between a discount and a sale?

Back

A discount is a reduction in price, while a sale is a temporary event where items are sold at reduced prices.