Tax, Tip, and Discount Flashcard

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.

Front

How do you calculate the amount of a discount?

Back

To calculate the discount amount, multiply the original price by the discount percentage (in decimal form).

Front

If a dress costs $40 and is marked 25% off, what is the discount amount?

Back

$10

Front

What is a tip?

Back

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

Front

How do you calculate the total bill after adding a tip?

Back

To calculate the total bill, add the tip amount to the original bill amount.

Front

If Angela spends $30 and leaves a 15% tip, what is her total bill?

Back

$34.50

Front

What is sales tax?

Back

Sales tax is a percentage added to the price of goods and services, collected by the seller and paid to the government.

Front

How do you calculate the total cost including sales tax?

Back

To calculate the total cost, multiply the original price by the sales tax rate (in decimal form) and add it to the original price.

Front

If a pizza costs $15.20 and the sales tax is 5%, what is the total amount paid?

Back

$25.10

Front

What is markup?

Back

Markup is the amount added to the cost price of goods to cover overhead and profit, often expressed as a percentage.