Multi-Step Percent Problems

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 percentage of a number?

Back

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.

Front

What does 'discount' mean?

Back

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

Front

How do you find the sale price after a discount?

Back

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

Front

What is sales tax?

Back

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

Front

How do you calculate sales tax?

Back

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.

Front

What is a markup?

Back

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

Front

How do you calculate the sale price with markup?

Back

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).

Front

What is the formula for finding the final price including tax?

Back

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

Front

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

Back

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