Discount, Tax, Tip, Markup, & Commission

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.

Front

How do you calculate the percent decrease?

Back

Percent decrease is calculated by taking the difference between the original value and the new value, dividing by the original value, and then multiplying by 100.

Front

What is tax?

Back

Tax is a mandatory financial charge imposed by a government on individuals or businesses, usually calculated as a percentage of income or sales.

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

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 of the cost.

Front

What is commission?

Back

Commission is a fee paid to an employee or agent for their services, typically calculated as a percentage of the sales they generate.

Front

If a shirt originally costs $50 and is on sale for 20% off, what is the sale price?

Back

The sale price is $40.

Front

How do you find the total cost after tax?

Back

To find the total cost after tax, multiply the original price by the tax rate (as a decimal) and add that amount to the original price.

Front

If a meal costs $30 and you want to leave a 15% tip, how much is the tip?

Back

The tip is $4.50.

Front

What is the formula for calculating percent of a number?

Back

Percent of a number = (Percent / 100) * Number.