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 the selling price with a markup?

Back

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

Front

What does 'markup' mean in pricing?

Back

Markup is the amount added to the cost price of a product to determine its selling price.

Front

What is a gratuity?

Back

A gratuity is a sum of money given to someone for their services, commonly known as a tip.

Front

How do you calculate sales tax?

Back

Sales Tax = Cost Price × Sales Tax Rate

Front

What is the formula to find the total cost after tax?

Back

Total Cost = Cost Price + Sales Tax

Front

How do you round a number to the nearest cent?

Back

Look at the third decimal place: if it's 5 or more, round up; if it's less than 5, round down.

Front

What is a discount?

Back

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

Front

How do you calculate the amount saved from a discount?

Back

Amount Saved = Original Price × Discount Percentage

Front

What is the formula for calculating the final price after a discount?

Back

Final Price = Original Price - Amount Saved