Transcript Document
Guided Notes – Tax, Tip, Discount Date_________ Gratuity: (Tip) A percent earned by a person for providing a service The tip is a ___________________ OF your bill Step 1: ____________________ the percent by the bill to get the tip Step 2: ___________ the answer to ____________________________ Example 1: You want to leave a 15% tip. If your meal costs $10, how much should you leave for a tip? Example 2: You want to leave a 20% tip. If your meal costs $15, how much should you leave for a tip? How much did you spend altogether? How much did you spend altogether? Example 3: You want to leave a 15% tip. If your meal cost $10, how much did you spend altogether? Example 4: Your bill at Bob Evans is $25.00. If you want to leave 20% gratuity, what will be the total amount that you spent? Going Backwards (Finding the Bill): It may be helpful to set up a ___________________________. Example 1: Justin leaves a tip of $6, which was 20% of the cost of his meal. How much did his meal cost? Example 2: Eric’s family leaves a tip of $18, which was 15% of the cost of their bill. How much did their meal cost? Sales Tax: A percent of a purchase charged by the government Tax is a ___________________ OF your purchase Step1: ____________________ the percent by the purchase to get the tax Step 2: ___________ the answer to ____________________________ Example 1: The sales tax is 6.5%. If you buy a television for $500, what will your total price be? Step 1: Multiply the percent by your price (to get your tax) 6.5% x 500 = ___________ Step 2: Add tax to the original amount to get the total! 500 + _________ = $________ Total Price Example 3: Menu: Hamburger meal $8.75 Drink $2.50 You and your friend each order a hamburger meal and a drink. What is your total amount you will spend? What is the tax of the meal with a 6.5% tax? What is the final bill? Example 2: The sales tax is 7%. If you spent $60 on items, how much is your sales tax? Including tax, how much did you spend? Example 4: The bill for a family dinner was $49.53. What is the bill with a 6.5% tax? What is the total so far? Mr. Jones wants to leave about 15% of the bill as a tip. What is the tip? What is the total amount he paid? Guided Notes Markdowns: Date _______ To calculate discounts and/or multiple discounts: Step1: ____________________ the percent by the purchase Step 2: ___________ the answer from ____________________________ (Sometimes) Step 3: _____________ the additional percentage by the new sale price (Sometimes) Step 4: _____________ the additional discount by the new sale price Examples: 2. A stereo is $56.80. It is marked as 15% off the original price. What is sale price? 1. Find 30% off of a CD that cost $15. 3. A sweater is selling at a discount of 45%. The original price is 49.60. What was the sale price of the sweater? 4. Elise is buying two coats for her children. Margaret’s coat costs $40.00 but is 25% off. Justin’s coat cost $34.00 but is 10% off. Which coat is the better deal? If she buys them both, how much will she spend? (without tax) Discounts and Tax: 1) A pair of jeans that you want to buy costs $24.00. The jeans are on sale for 15% off. Sales tax is 7% added to the price. What will the total be at the checkout? What is the discounted price? _________ What is 7% of the discounted price _______ What is your final total at checkout ________ 2) Aimee is decorating her new house. She found a table at Pier One for $425. If the table is 25% off and she has to pay a 6% tax, what will be her final price at checkout? What is the discounted price? ________ What is 6% of the discounted price? ______ What is your final total at checkout? ___________ Multiple Discounts: 1) 2) 3) Extended Response Example: Going Backwards (finding the original price): It may be helpful to set up a ___________________________. Example 1: A TV is selling at a discount of 25%. The sale price is $609.75. What was the original price of the TV? Example 2: A shirt is selling at a discount of 10%. The sale price is $27.00. What was the original price of the TV?