Percent Applications

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 a tip based on a percentage?

Back

To calculate a tip, multiply the total bill amount by the tip percentage (as a decimal). For example, a 20% tip on a $100 bill is $100 x 0.20 = $20.

Front

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

Back

Total Cost = Original Price + (Original Price x Tax Rate).

Front

How do you find the discount amount?

Back

Discount Amount = Original Price x Discount Rate (as a decimal).

Front

What is the formula to calculate the final price after applying a discount and tax?

Back

Final Price = (Original Price - Discount Amount) + Tax on Discounted Price.

Front

What does it mean to mark up a price?

Back

Marking up a price means increasing the original cost of an item by a certain percentage to determine the selling price.

Front

How do you calculate the selling price after a markup?

Back

Selling Price = Cost Price + (Cost Price x Markup Percentage).

Front

What is the difference between sales tax and tip?

Back

Sales tax is a percentage added to the price of goods/services by the government, while a tip is a voluntary amount given to service workers.

Front

How do you calculate the total bill including tax and tip?

Back

Total Bill = (Original Bill + Tax) + Tip.

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.