Tip, Tax, Markup

Front

What is markup?

Back

Markup is the amount added to the cost price of a product to determine its selling price, usually expressed as a percentage of the cost price.

Tags

CCSS.6.RP.A.3C

Front

How do you calculate the selling price using markup?

Back

Selling Price = Cost Price + (Markup Percentage × Cost Price)

Tags

CCSS.6.RP.A.3C

Front

What is a tip?

Back

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

Tags

CCSS.6.RP.A.3C

Front

How do you calculate the total cost including a tip?

Back

Total Cost = Meal Cost + (Tip Percentage × Meal Cost)

Tags

CCSS.6.RP.A.3C

Front

What is the formula to convert a fraction to a percentage?

Back

Percentage = (Fraction × 100)%

Front

Back

48%.

Front

What does gratuity mean in the context of a bill?

Back

Gratuity refers to the amount of money added to the bill as a tip for service.

Tags

CCSS.L.11-12.4C

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

Front

How is gratuity related to the total price?

Back

Gratuity is added to the price of the service or meal.

Tags

CCSS.7.EE.B.3

Front

What is the decimal equivalent of 82%?

Back

0.82.

Front

How do you convert a percentage to a decimal?

Back

To convert a percentage to a decimal, divide the percentage by 100.