Tax, Tip, Markup, Discount

Front

What is tax?

Back

Tax is a percentage of the price added to the cost of goods or services, paid to the government.

Tags

CCSS.6.RP.A.3C

Front

How do you calculate the total cost including tax?

Back

To calculate the total cost including tax, multiply the original price by the tax rate (as a decimal) and add it to the original price.

Tags

CCSS.6.RP.A.3B

Front

What is a tip?

Back

A tip is a small amount of money given to service workers, usually calculated as a percentage of the total bill.

Tags

CCSS.6.RP.A.3C

Front

How do you calculate a tip?

Back

To calculate a tip, multiply the total bill by the tip percentage (as a decimal).

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.

Tags

CCSS.6.RP.A.3B

Front

How do you calculate markup?

Back

Markup can be calculated by taking the selling price minus the cost price, then dividing by the cost price.

Tags

CCSS.7.RP.A.3

Front

What is a discount?

Back

A discount is a reduction in the price of a product or service, usually expressed as a percentage.

Tags

CCSS.6.RP.A.3C

Front

How do you calculate the amount saved with a discount?

Back

To calculate the amount saved with a discount, multiply the original price by the discount percentage (as a decimal).

Tags

CCSS.6.RP.A.3C

Front

If an item costs $50 and has a 20% discount, what is the sale price?

Back

The sale price is $40. (Calculation: $50 - ($50 * 0.20) = $40)

Tags

CCSS.6.RP.A.3C

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. (Calculation: $30 * 0.15 = $4.50)

Tags

CCSS.6.RP.A.3C