discount/markup, tax/tip, percent of change

Front

What is a discount?

Back

A reduction in the original price of a product or service.

Front

What is markup?

Back

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

Front

What is sales tax?

Back

A percentage of the selling price added to the cost of a product or service.

Front

How do you calculate the total cost including sales tax?

Back

Total Cost = Original Price + (Original Price × Sales Tax Rate).

Front

What is a tip?

Back

A small amount of money given to someone for their service, usually a percentage of the total bill.

Front

What is percent of change?

Back

The percent that a quantity increases or decreases from its original amount.

Front

How do you calculate percent change?

Back

Percent Change = ((New Value - Original Value) / Original Value) × 100.

Front

What is the formula for calculating a percentage?

Back

Percentage = (Part / Whole) × 100.

Front

If a shirt costs $40 and is on sale for $30, what is the discount?

Back

Discount = Original Price - Sale Price = $40 - $30 = $10.

Front

If a product costs $200 and has a markup of 25%, what is the selling price?

Back

Selling Price = Cost + (Cost × Markup Rate) = $200 + ($200 × 0.25) = $250.