Tax and Tip - Review

Front

What is the formula to calculate tax amount?

Back

Tax Amount = Original Price × Tax Rate

Front

If the original price is $15.25 and the tax rate is 7%, what is the tax amount?

Back

$1.06

Front

What happens to the tax amount when calculating the final cost?

Back

The tax amount is added to the original price.

Front

True or False: A tip amount is subtracted from the final bill.

Back

False

Front

What is the formula to calculate the total amount spent including tip?

Back

Total Amount = Original Price + Tip Amount

Front

If a hotel charges $750 and a 20% tip is given, what is the total amount spent?

Back

$900

Front

If the total bill is $389.45 and a 15% tip is added, what is the total amount spent?

Back

$447.86

Front

What does 'tip' refer to in a restaurant context?

Back

A tip is a sum of money given to service workers for their service.

Front

How do you calculate a tip amount?

Back

Tip Amount = Total Bill × Tip Percentage

Front

What is the difference between tax and tip?

Back

Tax is a government charge on goods/services; tip is a voluntary payment for service.