Tax and Discount

Front

What is a discount?

Back

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

Front

How do you calculate the sale price after a discount?

Back

Sale Price = Original Price - (Original Price x Discount Percentage)

Front

What is tax in the context of purchases?

Back

Tax is an additional amount of money added to the price of a product or service, usually expressed as a percentage.

Front

How do you calculate the total cost including tax?

Back

Total Cost = Sale Price + (Sale Price x Tax Percentage)

Front

What is gratuity?

Back

Gratuity, often referred to as a tip, is a sum of money given to service workers for their service, usually expressed as a percentage of the total bill.

Front

How do you calculate gratuity?

Back

Gratuity = Total Bill x Gratuity Percentage

Front

If a chair costs $325 and is on sale for 10% off, what is the discount amount?

Back

Discount Amount = $325 x 0.10 = $32.50

Front

What is the final price of a chair that costs $325 with a 10% discount and 8.5% tax?

Back

Final Price = ($325 - $32.50) + (($325 - $32.50) x 0.085) = $317.36

Front

How do you find the original price if you know the sale price and discount percentage?

Back

Original Price = Sale Price / (1 - Discount Percentage)