Tax, Tip, Discount

Front

What is a percent?

Back

A percent is a way to express a number as a fraction of 100. It is denoted by the symbol '%'. For example, 50% means 50 out of 100.

Front

How do you convert a decimal to a percent?

Back

To convert a decimal to a percent, multiply the decimal by 100 and add the percent symbol. For example, 0.061 x 100 = 6.1%.

Front

What is tax?

Back

Tax is a percentage of the cost of goods or services that is added to the price. It is collected by the government.

Front

How do you calculate the total cost including tax?

Back

To calculate the total cost including tax, multiply the original price by the tax rate (as a decimal), then add that amount to the original price. For example, for a $1.49 item with a 5% tax: $1.49 + ($1.49 x 0.05) = $1.56.

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 price after a discount?

Back

To calculate the price after a discount, multiply the original price by the discount rate (as a decimal) and subtract that amount from the original price. For example, for a $399 item with a 20% discount: $399 - ($399 x 0.20) = $319.20.

Front

What is sales tax?

Back

Sales tax is a tax imposed on the sale of goods and services, usually calculated as a percentage of the purchase price.

Front

How do you calculate the total cost after applying a discount and sales tax?

Back

First, calculate the price after the discount, then calculate the sales tax on that discounted price, and finally add the sales tax to the discounted price.

Front

If an item costs $150 and has a 40% discount, what is the discount amount?

Back

The discount amount is calculated by multiplying the original price by the discount rate: $150 x 0.40 = $60.

Front

What is the final price after a 40% discount on a $150 item?

Back

The final price is $150 - $60 = $90.