Sales tax, tip, discount, markup

Front

What is sales tax?

Back

Sales tax is a percentage of the purchase price that is added to the total cost of goods or services, collected by the seller and paid to the government.

Tags

CCSS.6.RP.A.3C

Front

How do you calculate the total cost after applying a discount?

Back

To calculate the total cost after applying a discount, subtract the discount amount from the original price. The discount amount can be calculated by multiplying the original price by the discount percentage.

Tags

CCSS.6.RP.A.3C

Front

What is a tip?

Back

A tip is a sum of money given to someone for their service, typically calculated as a percentage of the total bill.

Tags

CCSS.6.RP.A.3C

Front

How do you calculate a tip based on a percentage?

Back

To calculate a tip based on a percentage, multiply the total bill amount by the tip percentage (expressed as a decimal).

Tags

CCSS.6.RP.A.3C

Front

What is a discount?

Back

A discount is a reduction in the price of a product or service, often expressed as a percentage of the original price.

Tags

CCSS.6.RP.A.3C

Front

How do you calculate the sale price of an item after a discount?

Back

To calculate the sale price, subtract the discount amount from the original price. The discount amount is found by multiplying the original price by the discount percentage.

Tags

CCSS.6.RP.A.3C

Front

What is markup?

Back

Markup is the amount added to the cost price of goods to cover overhead and profit, usually expressed as a percentage of the cost price.

Tags

CCSS.6.RP.A.3C

Front

How do you calculate the final price after applying markup?

Back

To calculate the final price after applying markup, multiply the cost price by the markup percentage (expressed as a decimal) and add that amount to the cost price.

Tags

CCSS.7.RP.A.3

Front

What is the formula for calculating the total cost including sales tax?

Back

Total Cost = Original Price + (Original Price x Sales Tax Rate).

Tags

CCSS.6.RP.A.3C

Front

How do you find the percentage of a number?

Back

To find the percentage of a number, multiply the number by the percentage (expressed as a decimal).