Tax, Tip, Discount

Front

What is a discount?

Back

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

Front

How do you calculate the final price after a discount?

Back

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

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.

Front

How do you calculate the total cost including sales tax?

Back

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

Front

What is the formula to find the total cost after applying a discount and then adding sales tax?

Back

Total Cost = (Original Price - Discount) + Sales Tax on Discounted Price

Front

If a sofa costs $599.99 and has a 20% discount, what is the discount amount?

Back

Discount Amount = $599.99 x 0.20 = $119.998, so the discount is approximately $120.

Front

If the discounted price of an item is $479.99 and the sales tax is 6%, what is the sales tax amount?

Back

Sales Tax Amount = $479.99 x 0.06 = $28.7994, so the sales tax is approximately $28.80.

Front

What is the final price of an item that costs $150 with a 40% discount and 5% sales tax?

Back

Final Price = ($150 - $60) + (($150 - $60) x 0.05) = $90 + $4.50 = $94.50.

Front

What happens to a bank account balance when a fee is charged?

Back

The balance decreases by the amount of the fee.

Front

If Brenda has a balance of -$52 and is charged a $10 fee, what is her new balance?

Back

New Balance = -$52 - $10 = -$62.