Sales Tax & Tip

Front

What is sales tax?

Back

Sales tax is a percentage of the price of a good or service that is added to the total cost at the time of purchase.

Front

How do you calculate the final price with sales tax?

Back

Final Price = Original Price + (Original Price × Sales Tax Rate)

Front

If a raincoat costs $39.99 and has a sales tax rate of 7%, what is the final price?

Back

$42.79

Front

What is a tip?

Back

A tip is a small amount of money given to someone for their service, usually calculated as a percentage of the total bill.

Front

How do you calculate a tip?

Back

Tip = Total Bill × Tip Percentage

Front

If your bill at a restaurant is $57.83 and you leave a 30% tip, how much is the tip?

Back

$17.35

Front

What does it mean to add sales tax to a price?

Back

It means to increase the original price by a certain percentage to account for the tax.

Front

If a phone costs $500 and has a sales tax of 15%, what is the final price?

Back

$575

Front

What is the sales tax rate in the example of Mrs. Ray buying shirts?

Back

4.5%.

Front

If Mrs. Ray's shirts total $35.50, how much will she owe after sales tax?

Back

$37.10