Tax and Tip

Front

What is tax?

Back

Tax is a percentage of the price of a good or service that is added to the total cost, collected by the government.

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 sales tax?

Back

To calculate sales tax, multiply the price of the item by the sales tax rate (as a decimal) and add it to the original price.

Front

If a product costs $50 and the sales tax is 8%, what is the total cost?

Back

Total cost = $50 + ($50 * 0.08) = $54.

Front

What is the formula to calculate a tip?

Back

Tip = Total Bill Amount x Tip Percentage (as a decimal).

Front

If a dinner bill is $40 and you want to leave a 20% tip, how much is the tip?

Back

Tip = $40 x 0.20 = $8.

Front

What does it mean to convert a percentage to a decimal?

Back

To convert a percentage to a decimal, divide the percentage by 100.

Front

Convert 25% to a decimal.

Back

0.25

Front

What is the total cost if you buy a $30 item with a 10% tax?

Back

Total cost = $30 + ($30 * 0.10) = $33.

Front

If you leave a 15% tip on a $60 bill, how much do you leave?

Back

Tip = $60 x 0.15 = $9.