Sales tax, tip, discount, markup

Front

What is sales tax?

Back

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

Tags

CCSS.6.RP.A.3C

Front

How do you calculate the sale price after a discount?

Back

To calculate the sale price after a discount, subtract the discount amount from the original price. Discount amount = Original price x Discount rate.

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, typically in the hospitality industry, as a way to show appreciation.

Tags

CCSS.RI.6.3

CCSS.RI.6.5

CCSS.RI.7.3

CCSS.RI.7.5

CCSS.RI.8.3

Front

How do you calculate a tip?

Back

To calculate a tip, multiply the total bill amount by the tip percentage. Tip amount = Total bill x Tip rate.

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. Discount amount = Original price x Discount rate.

Tags

CCSS.6.RP.A.3C

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.

Tags

CCSS.6.RP.A.3C

Front

How do you calculate markup?

Back

To calculate markup, multiply the cost price by the markup percentage. Markup amount = Cost price x Markup rate.

Tags

CCSS.6.RP.A.3C

Front

If a pair of shoes costs $55 and is on sale for 25% off, what is the sale price?

Back

The sale price is $41.25.

Tags

CCSS.6.RP.A.3C

Front

If Eli buys pants for $25.00 and the sales tax is 5%, how much sales tax does he pay?

Back

Eli pays $1.25 in sales tax.

Tags

CCSS.6.RP.A.3C