Multi-Step Percent Problems

A percent is a ratio expressed as a fraction of 100. It represents a part of a whole.

To calculate a percentage of a number, multiply the number by the percentage (in decimal form). For example, 25% of 200 is 200 * 0.25 = 50.

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

To find the sale price, subtract the discount amount from the original price. Sale Price = Original Price - Discount.

Sales tax is a percentage added to the price of goods and services, collected by the seller and paid to the government.

To calculate sales tax, multiply the price of the item by the sales tax rate (in decimal form). For example, for a $100 item with a 6.5% tax rate, the tax is $100 * 0.065 = $6.50.

Markup is the amount added to the cost price of goods to cover overhead and profit.

To calculate the sale price with markup, multiply the cost price by (1 + markup rate in decimal form). Sale Price = Cost Price * (1 + Markup Rate).

Final Price = Sale Price + (Sale Price * Sales Tax Rate).

Sale Price = $50 - ($50 * 0.20) = $50 - $10 = $40.