Sales tax, tip, discount, markup

Front

What is sales tax?

Back

A sales tax is a percentage of the sale price of goods or services that is added to the total cost, which is collected by the seller and paid to the government.

Tags

CCSS.6.RP.A.3C

Front

How do you calculate the amount of sales tax?

Back

To calculate sales tax, multiply the sale price by the sales tax rate (as a decimal). For example, if the sale price is $100 and the sales tax rate is 5%, the sales tax is $100 x 0.05 = $5.

Tags

CCSS.6.RP.A.3C

Front

What is a discount?

Back

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

Tags

CCSS.6.RP.A.3C

Front

How do you calculate the amount of discount?

Back

To calculate the discount amount, multiply the original price by the discount percentage (as a decimal). For example, for a $80 jacket with a 30% discount, the discount is $80 x 0.30 = $24.

Tags

CCSS.6.RP.A.3C

Front

What is the sale price after a discount?

Back

The sale price is the original price minus the discount amount. For example, if a jacket costs $80 and has a $24 discount, the sale price is $80 - $24 = $56.

Tags

CCSS.5.OA.A.1

CCSS.5.OA.A.2

Front

What is markup?

Back

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

Tags

CCSS.6.RP.A.3C

Front

How do you calculate the amount of markup?

Back

To calculate the markup amount, multiply the cost price by the markup percentage (as a decimal). For example, if jeans cost $19.99 and are marked up by 20%, the markup is $19.99 x 0.20 = $4.

Tags

CCSS.6.RP.A.3C

Front

What is the formula for calculating the selling price after markup?

Back

Selling Price = Cost Price + Markup Amount. For example, if the cost price is $19.99 and the markup is $4, the selling price is $19.99 + $4 = $23.99.

Tags

CCSS.6.RP.A.3B

Front

What is a tip?

Back

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

Tags

CCSS.6.RP.A.3C

Front

How do you calculate a tip?

Back

To calculate a tip, multiply the total bill by the tip percentage (as a decimal). For example, for a $50 bill with a 15% tip, the tip is $50 x 0.15 = $7.50.

Tags

CCSS.6.RP.A.3C