Tax,Tip,Discount

Front

What is the formula to calculate the total price after a markup?

Back

Total Price = Cost Price + (Markup Percentage × Cost Price)

Front

How do you calculate a tip based on a bill amount?

Back

Tip = Bill Amount × Tip Percentage

Front

What is the total price of an item after adding sales tax?

Back

Total Price = Original Price + (Sales Tax Percentage × Original Price)

Front

How do you convert a percentage to a decimal?

Back

Divide the percentage by 100.

Front

What is the markup percentage if an item costs $50 and is sold for $65?

Back

Markup Percentage = ((Selling Price - Cost Price) / Cost Price) × 100 = 30%.

Front

If a meal costs $40 and the tip is 15%, what is the total cost of the meal including tip?

Back

Total Cost = Meal Cost + (Tip Percentage × Meal Cost) = $40 + ($40 × 0.15) = $46.

Front

What does it mean to 'add' the tip to the original bill?

Back

It means to calculate the total cost by including the tip amount on top of the original bill.

Front

What is the difference between a discount and a markup?

Back

A discount reduces the original price, while a markup increases the original price.

Front

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

Back

Final Price = Original Price - (Discount Percentage × Original Price)

Front

What is the sales tax rate if the total price after tax is $110 and the original price was $100?

Back

Sales Tax Rate = ((Total Price - Original Price) / Original Price) × 100 = 10%.