Lesson 20 Flashcard

Front

What is a discount?

Back

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

Front

How do you calculate the discounted price?

Back

To calculate the discounted price, multiply the original price by the discount percentage, subtract that amount from the original price.

Front

What is a tip?

Back

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

Front

How do you calculate a tip?

Back

To calculate a tip, multiply the total bill by the tip percentage.

Front

What does 'markup' mean?

Back

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

Front

How do you calculate the selling price after a markup?

Back

To calculate the selling price after a markup, multiply the cost price by the markup percentage and add that amount to the cost price.

Front

What is the formula for calculating a percentage?

Back

The formula for calculating a percentage is (part/whole) x 100.

Front

If an item costs $200 and is on sale for 25% off, what is the sale price?

Back

The sale price is $150.

Front

What is the original price if a car is sold for $18,000 after a 10% markup?

Back

The original cost price of the car is $16,000.

Front

How do you find the new price after a markup?

Back

To find the new price after a markup, add the markup amount (calculated as a percentage of the original price) to the original price.