Multi-Step 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 percentage of a number?

Back

To calculate a percentage of a number, multiply the number by the percentage (in decimal form). For example, to find 20% of 50, calculate 50 x 0.20 = 10.

Front

What does 'discount' mean in retail?

Back

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

Front

How do you calculate the final price after a discount?

Back

To calculate the final price after a discount, subtract the discount amount from the original price. For example, if a shirt costs $40 and has a 25% discount, the discount is $10, making the final price $30.

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 the total cost including sales tax?

Back

To calculate the total cost including sales tax, multiply the original price by the sales tax rate (in decimal form) and add it to the original price. For example, for a $100 item with a 6% tax, the total cost is $100 + ($100 x 0.06) = $106.

Front

What is a markup?

Back

Markup is the amount added to the cost price of goods to cover overhead and profit, 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 (in decimal form) and add it to the cost price. For example, if a purse costs $24.50 and has a 25% markup, the selling price is $24.50 + ($24.50 x 0.25) = $30.63.

Front

What is a commission?

Back

Commission is a fee paid to an employee based on the sales they make, usually expressed as a percentage of the sale.

Front

How do you calculate commission earned?

Back

To calculate commission earned, multiply the total sales by the commission rate (in decimal form). For example, if a salesperson sells $500 worth of products at a 15% commission, they earn $500 x 0.15 = $75.