Tax and Tip

Tax and Tip

Assessment

Flashcard

Mathematics

7th - 8th Grade

Hard

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15 questions

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1.

FLASHCARD QUESTION

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.

2.

FLASHCARD QUESTION

Front

How do you calculate a tip?

Back

To calculate a tip, multiply the total bill by the tip percentage (expressed as a decimal). For example, for a 20% tip on a $20 bill: $20 x 0.20 = $4.

3.

FLASHCARD QUESTION

Front

What is sales tax?

Back

Sales tax is a percentage added to the price of goods and services, collected by the seller and paid to the government.

4.

FLASHCARD QUESTION

Front

How do you calculate sales tax?

Back

To calculate sales tax, multiply the price of the item by the sales tax rate (expressed as a decimal). For example, for a $899 TV with a 6.5% tax: $899 x 0.065 = $58.43.

5.

FLASHCARD QUESTION

Front

What is the total cost including tax?

Back

The total cost including tax is the sum of the original price and the sales tax. For example, if a TV costs $899 and the tax is $58.43, the total cost is $899 + $58.43 = $957.43.

6.

FLASHCARD QUESTION

Front

What is a percent of change?

Back

Percent of change measures how much a quantity has increased or decreased relative to its original value, expressed as a percentage.

7.

FLASHCARD QUESTION

Front

How do you calculate percent of change?

Back

Percent of change = (New Value - Original Value) / Original Value x 100%. For example, if a price increases from $100 to $120: (120 - 100) / 100 x 100% = 20%.

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