Tax/Tip/Discount/MarkUp/Commission Flashcard
Flashcard
•
Mathematics
•
6th - 7th Grade
•
Practice Problem
•
Hard
+2
Standards-aligned
Wayground Content
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15 questions
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1.
FLASHCARD QUESTION
Front
What is commission?
Back
Commission is a fee paid to an employee or agent for services rendered, typically calculated as a percentage of the sales made.
Tags
CCSS.6.RP.A.3C
2.
FLASHCARD QUESTION
Front
How do you calculate commission?
Back
To calculate commission, multiply the total sales amount by the commission rate (as a decimal). For example, if the commission rate is 12% and sales are $22,540, the commission is $22,540 x 0.12 = $2,704.80.
Tags
CCSS.6.RP.A.3C
3.
FLASHCARD QUESTION
Front
What is sales tax?
Back
Sales tax is a tax imposed by the government on the sale of goods and services, usually calculated as a percentage of the purchase price.
Tags
CCSS.6.RP.A.3B
4.
FLASHCARD QUESTION
Front
How do you calculate sales tax?
Back
To calculate sales tax, multiply the cost of the item by the sales tax rate (as a decimal). For example, for an item costing $77 with a 9.8% tax rate, the tax is $77 x 0.098 = $7.55.
Tags
CCSS.6.RP.A.3C
5.
FLASHCARD QUESTION
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.
Tags
CCSS.6.RP.A.3C
6.
FLASHCARD QUESTION
Front
How do you calculate the selling price with markup?
Back
To calculate the selling price with markup, multiply the cost by the markup percentage (as a decimal) and add it to the cost. For example, if a soda costs $1.25 with a 20% markup, the selling price is $1.25 + ($1.25 x 0.20) = $1.50.
Tags
CCSS.6.RP.A.3C
7.
FLASHCARD QUESTION
Front
What is a discount?
Back
A discount is a reduction in the price of a product or service, often expressed as a percentage of the original price.
Tags
CCSS.6.RP.A.3C
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