Tax, Tips, and Discounts

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What is a tip and how is it calculated?

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A tip is a small amount of money given to someone for their service, typically calculated as a percentage of the total bill. For example, a 15% tip on a $100 bill is $15.

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How do you calculate a percentage of a number?

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To calculate a percentage of a number, multiply the number by the percentage (in decimal form). For example, to find 28% of 240, calculate 240 * 0.28 = 67.2.

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What does 'discount' mean?

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

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How do you calculate the amount of a discount?

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To calculate the amount of a discount, multiply the original price by the discount percentage (in decimal form). For example, a 40% discount on an $85 jacket is 85 * 0.40 = $34.

Front

What is the formula to find the total cost after a tip is added?

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Total Cost = Original Bill + (Tip Percentage * Original Bill). For example, if the bill is $256.18 and the tip is 15%, the total cost is $256.18 + (0.15 * 256.18) = $294.01.

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How do you convert a fraction to a percentage?

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What is the relationship between fractions and percentages?

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Fractions and percentages are two ways to express a part of a whole. A percentage is a fraction with a denominator of 100.

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How do you find the percentage of a total?

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To find the percentage of a total, divide the part by the total and multiply by 100. For example, if 45 out of 75 students play woodwind instruments, the percentage is (45/75) * 100 = 60%.

Front

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

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Final Price = Original Price - Discount Amount. For example, if an item costs $100 and has a $20 discount, the final price is $100 - $20 = $80.

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How do you find the original price before a discount?

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To find the original price before a discount, divide the sale price by (1 - discount rate). For example, if an item is sold for $51 after a 40% discount, the original price is $51 / (1 - 0.40) = $85.