Taxes, tips, markup, discount, percent

Front

What is a tip?

Back

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

Front

How do you calculate a tip?

Back

To calculate a tip, multiply the total bill by the tip percentage (expressed as a decimal). For example, for a $50 bill with a 20% tip, the tip is $50 x 0.20 = $10.

Front

What is a discount?

Back

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

Front

How do you calculate a discount?

Back

To calculate a discount, multiply the original price by the discount percentage (expressed as a decimal) and subtract that amount from the original price.

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.

Front

How do you calculate the sale price after a discount?

Back

Sale Price = Original Price - Discount Amount.

Front

What is the formula to find the total cost after adding a tip?

Back

Total Cost = Meal Cost + Tip Amount.

Front

If a coat costs $25.60 and has a 37% discount, what is the discount amount?

Back

Discount Amount = $25.60 x 0.37 = $9.47.

Front

If you leave an 18% tip on a $78.34 meal, how much is the tip?

Back

Tip = $78.34 x 0.18 = $14.10.

Front

What does it mean to subtract a discount from a price?

Back

Subtracting a discount means reducing the original price by the discount amount to find the sale price.