Tax, Tip, And Discount

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

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Tax Quizzes & Trivia

This quiz will cover the practical applications of percents.


Questions and Answers
  • 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

    Correct Answer
    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

    Correct Answer
    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

    Correct Answer
    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

    Correct Answer
    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

    Correct Answer
    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.

    Rate this question:

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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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