Taxes, Tip, Markup, Discount, Markdown

Front

What is a discount?

Back

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

Front

How do you calculate the sale price after a discount?

Back

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

Front

What is a tip?

Back

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

Front

How do you calculate the total bill including a tip?

Back

Total Bill = Original Bill + (Tip Percentage × Original Bill)

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.

Front

How do you calculate the selling price with markup?

Back

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

Front

What is a markdown?

Back

A markdown is a reduction in the original selling price of a product, often used to encourage sales.

Front

How do you calculate the new price after a markdown?

Back

New Price = Original Price - (Markdown Percentage × Original Price)

Front

What is gratuity?

Back

Gratuity is another term for tip, often used in the context of service industries.

Front

If a video costs $25.95 and is on sale for 25% off, what is the sale price?

Back

Sale Price = $25.95 - (0.25 × $25.95) = $19.46