How to Find Discount, Tax, and Tip? (+FREE Worksheet!)
Learn how to use the percent formula to solve Discount, Tax, and Tip problems in a few simple and easy steps.
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Step-by-step guide to solving Discount, Tax, and Tip problems
- Discount \(=\) Multiply the regular price by the rate of discount
- Selling price \(=\) original price \(–\) discount
- Tax: To find tax, multiply the tax rate by the taxable amount (income, property value, etc.)
- Tip: To find the tip, multiply the rate by the selling price.
Discount, Tax and Tip – Example 1:
With a \(20\%\) discount, Ella was able to save \($40\) on a dress. What was the original price of the dress?
Solution:
\(20\%\) of \(x= 40, \frac{20}{100} \ × \ x=40, x=\frac{100 \ × \ 40}{ 20}=200 \)
The original price of the dress was \($200\).
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Discount, Tax and Tip – Example 2:
Sophia purchased a sofa for \($340.00\). The sofa is regularly priced at \($400.00\). What was the percent discount Sophia received on the sofa?
Solution:
Use this formula: \(\color{ blue }{ percent = Part ÷ base }\). \(=340 \ ÷ \ 400=0.85=85\%\)
Therefore, the discount is: \(100\% \ – \ 85\%=15\%\)
Discount, Tax, and Tip – Example 3:
Ella and her friends went out to eat at a restaurant. If their bill was \($60.00\) and they gave their server a \(15\%\) tip, how much did they pay altogether?
Solution:
The tip was \(15\%\). To solve \(15\%\) of \(60\) use this formula: \(\color{ blue }{part =\frac{percent}{100} \ × \ whole }\).
\(part =\frac{15}{100} \ × \ 60 →\) \(part=\frac{15 \ × \ 60}{100}→\) \(part=\frac{90}{10}→\) \(part\) \(=9 \)
The final amount they paid: \($60.00\) \(+\) \($9.00\) = \($69.00\)
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Discount, Tax and Tip – Example 4:
The selling price of a table is \($400\) and the tax rate is \(6\%\) . What is the final price of the table?
Solution:
Find tax amount: \(6\%\) of \(400\)
To solve \(6\%\) of \(400\) use this formula: \(\color{ blue }{part =\frac{percent}{100} \ × \ whole }\).
\(part\) \(=\frac{6}{100} \ × \ 400 →\) \(part\) \(=\frac{6 \ × \ 400}{100}→\) \(part=\frac{240}{10}→\) \(part=24 \)
The final price of the table is: \($400\) \(+\) \($24\) = \($424\)
Exercises for Solving Discount, Tax and Tip
Find the selling price of each item.
- Original price of a computer: \($200\)
Tax: \(10\%\), Selling price: - Original price of a computer: \($400\)
Tax: \(5\%\), Selling price: - Original price of a computer: \($500\)
Tax: \(8\%\), Selling price: - Original price of a computer: \($800\)
Tax: \(25\%\), Selling price: - Original price of a computer: \($250\)
Tax: \(10\%\), Selling price: - Original price of a computer: \($1,500\)
Tax: \(15\%\), Selling price:
Download Discount, Tax and Tip Worksheet
Answers
- \(\color{blue}{$220.00}\)
- \(\color{blue}{$420.00}\)
- \(\color{blue}{$540.00}\)
- \(\color{blue}{$1,000.00}\)
- \(\color{blue}{$275.00}\)
- \(\color{blue}{$1,725.00}\)
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