SOL 8.4 Tax, Tip, Discount, Commission

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 calculate the amount of discount?

Back

To calculate the amount of discount, multiply the original price by the discount percentage (in decimal form). For example, for a $15 item with a 10% discount: $15 x 0.10 = $1.50.

Front

What is a commission?

Back

A commission is a fee paid to a salesperson based on the sales they make, usually expressed as a percentage of the total sales.

Front

How do you calculate commission?

Back

To calculate commission, multiply the total sales amount by the commission rate (in decimal form). For example, for $22,540 in sales with a 12% commission: $22,540 x 0.12 = $2,704.80.

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 (in decimal form). For example, for a $26 bill with a 15% tip: $26 x 0.15 = $3.90.

Front

What is the sale price after a discount?

Back

The sale price is the original price minus the discount amount. For example, if a pair of boots costs $94.99 and has a 25% discount, the sale price is $94.99 - ($94.99 x 0.25) = $71.24.

Front

What does 'percent' mean?

Back

Percent means 'per hundred' and is used to express a number as a fraction of 100.

Front

If an item costs $50 and is marked 20% off, what is the sale price?

Back

The sale price is $50 - ($50 x 0.20) = $40.

Front

What is the formula for calculating the final price after a discount?

Back

Final Price = Original Price - (Original Price x Discount Percentage).