Tax,Tip,Disc.,Markup

Front

What is the formula to calculate percent change?

Back

Percent Change = ((New Value - Old Value) / Old Value) * 100

Front

How do you classify a percent change as an increase or decrease?

Back

If the new value is greater than the old value, it is a percent increase. If the new value is less than the old value, it is a percent decrease.

Front

What is a markup?

Back

Markup is the amount added to the cost price of goods to cover overhead and profit.

Front

How do you calculate the selling price after applying a markup?

Back

Selling Price = Cost Price + (Cost Price * Markup Percentage)

Front

What is a discount?

Back

A discount is a reduction in the price of a product or service.

Front

How do you calculate the selling price after applying a discount?

Back

Selling Price = Original Price - (Original Price * Discount Percentage)

Front

What is the formula to calculate the final price after a discount?

Back

Final Price = Original Price * (1 - Discount Percentage)