Taxes, tips, markup, discount, percent

Front

What is the formula to find the SALE PRICE?

Back

SALE PRICE = Original Price - Discount

Front

What does a discounted price indicate?

Back

A discounted price means the price has decreased.

Front

How is a discount applied to a price?

Back

Discount is subtracted from the price.

Front

If a TV costs $132 and the sales tax is 8%, what is the final cost?

Back

$142.56

Front

What is the total price of a smartphone that costs $170.41 with a 6.0% sales tax?

Back

$180.63

Front

What is a percent?

Back

A percent is a ratio expressed as a fraction of 100.

Front

How do you calculate a discount amount?

Back

Discount Amount = Original Price x Discount Rate.

Front

What is markup?

Back

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

Front

How do you calculate the final price after markup?

Back

Final Price = Cost Price + Markup Amount.

Front

What is the difference between sales tax and VAT?

Back

Sales tax is a tax on sales of goods and services, while VAT (Value Added Tax) is a tax on the value added at each stage of production.