Markup, Discount, Tip, and Tax

Front

What is markup?

Back

Markup is the amount added to the cost price of a product to determine its selling price. It is usually expressed as a percentage of the cost price.

Front

How do you calculate the selling price with markup?

Back

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

Front

If a CD costs $14.50 and has a markup of 30%, what is the selling price?

Back

$18.85

Front

What is a discount?

Back

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

Front

How do you calculate the sale price after a discount?

Back

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

Front

If a pair of jeans originally costs $29 and is 33% off, what is the sale price?

Back

$19.43

Front

What is tax in terms of purchases?

Back

Tax is an additional amount added to the price of goods or services, usually expressed as a percentage of the original price.

Front

How do you calculate the total price including tax?

Back

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

Front

If a book costs $90.50 and has a tax of 4%, what is the total price?

Back

$94.12

Front

What is the formula for calculating the discount amount?

Back

Discount Amount = Discount Percentage × Original Price