Percents in the Real World

Front

What is a percent?

Back

A percent is a ratio expressed as a fraction of 100. It represents a part of a whole.

Front

How do you calculate a percentage of a number?

Back

To calculate a percentage of a number, multiply the number by the percentage (in decimal form). For example, to find 20% of 50, calculate 50 x 0.20 = 10.

Front

What is markup?

Back

Markup is the amount added to the cost price of goods to cover overhead and profit. It is often 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 x Cost Price). For example, if a handbag costs $65 and has a 60% markup, Selling Price = $65 + (0.60 x $65) = $104.

Front

What is sales tax?

Back

Sales tax is a tax imposed by the government on the sale of goods and services, usually expressed as a percentage of the sale price.

Front

How do you calculate the total cost including sales tax?

Back

Total Cost = Original Price + (Sales Tax Rate x Original Price). For example, if a computer costs $675 and the sales tax is 6%, Total Cost = $675 + (0.06 x $675) = $715.50.

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.

Front

How do you calculate a tip?

Back

Tip Amount = Total Bill x Tip Percentage. For example, for a $26 bill with a 15% tip, Tip Amount = $26 x 0.15 = $3.90.

Front

What does 'discount' mean?

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 sale price after a discount?

Back

Sale Price = Original Price - (Discount Percentage x Original Price). For example, for $18 gym shorts with a 20% discount, Sale Price = $18 - (0.20 x $18) = $14.40.