# Tax, Tip, And Discount

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| By Kellyfritz
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Kellyfritz
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Quizzes Created: 1 | Total Attempts: 792
Questions: 5 | Attempts: 792

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This quiz will cover the practical applications of percents.

• 1.

### The Wheeler's bill at the restaurant was \$63.00.  How much money should Mr. Wheeler leave as a tip if he plans to tip 15%?

• A.

\$ 72.45

• B.

\$ 9.45

• C.

\$ 78.00

• D.

\$ 5.00

B. \$ 9.45
Explanation
Mr. Wheeler should leave \$9.45 as a tip because 15% of \$63.00 is \$9.45.

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• 2.

### Chris puts \$1,500 in a savings account at an annual interest rate of 5%.  If Chris does not deposit or withdraw any money, what is the amount of interest Chris will earn the first year her money is in the account?

• A.

\$ 50

• B.

\$ 75

• C.

\$ 500

• D.

\$ 700

B. \$ 75
Explanation
Chris puts \$1,500 in a savings account with an annual interest rate of 5%. To calculate the amount of interest Chris will earn in the first year, we need to multiply the principal amount (\$1,500) by the interest rate (5%).

\$1,500 x 5% = \$75

Therefore, Chris will earn \$75 in interest the first year her money is in the account.

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• 3.

### Lynne loaned \$480 to a friend.  The friend paid back the amount borrowed plus 10% interest.  What was the total amount the friend paid to Lynne?

• A.

\$ 480.10

• B.

\$ 484.80

• C.

\$ 528.00

• D.

\$ 490.00

C. \$ 528.00
Explanation
Lynne loaned \$480 to her friend. The friend paid back the amount borrowed plus 10% interest. To find the total amount the friend paid to Lynne, we need to calculate the interest. 10% of \$480 is \$48. Adding this to the original amount borrowed gives us \$480 + \$48 = \$528. Therefore, the correct answer is \$528.00.

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• 4.

### Harrison is buying a bicycle for \$340.  What amount of sales tax must he pay if the sales tax rate is 7%?

• A.

\$ 23.80

• B.

\$ 7.00

• C.

\$ 24.60

• D.

\$ 238.00

A. \$ 23.80
Explanation
Harrison must pay a sales tax of \$23.80 if the sales tax rate is 7%. To calculate the sales tax amount, we multiply the purchase price of \$340 by the sales tax rate of 7%, which gives us \$23.80. This amount is added to the original price, resulting in a total cost of \$363.80.

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• 5.

### The tax rate on an \$80 sweater is 6.5%. What is the tax?

• A.

\$ 520.00

• B.

\$ 5.20

• C.

\$ 52.00

• D.

\$ 85.20

B. \$ 5.20
Explanation
The tax rate on an \$80 sweater is 6.5%. To calculate the tax, we multiply the price of the sweater by the tax rate. In this case, 6.5% of \$80 is \$5.20.

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• Current Version
• Mar 22, 2023
Quiz Edited by
ProProfs Editorial Team
• Apr 29, 2011
Quiz Created by
Kellyfritz

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