Tip, Tax, Markup

Front

What is markup?

Back

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

Tags

CCSS.6.RP.A.3C

Front

How do you calculate the selling price using markup?

Back

Selling Price = Cost Price + (Markup Percentage × Cost Price)

Tags

CCSS.6.RP.A.3C

Front

What is a tip?

Back

A tip is a sum of money given to someone for their services, typically calculated as a percentage of the total bill.

Tags

CCSS.6.RP.A.3C

Front

How do you calculate a tip?

Back

Tip = Total Bill × Tip Percentage

Tags

CCSS.6.RP.A.3C

Front

What is the total cost when a tip is added?

Back

Total Cost = Total Bill + Tip

Tags

CCSS.6.RP.A.3C

Front

If a meal costs $50 and the tip is 15%, what is the total cost?

Back

Total Cost = $50 + ($50 × 0.15) = $57.50

Tags

CCSS.6.RP.A.3C

Front

What does gratuity mean in relation to a bill?

Back

Gratuity refers to the amount added to the bill as a tip for service.

Tags

CCSS.L.5.4B

CCSS.L.6.1E

Front

If a shirt costs $20 and has a markup of 25%, what is the selling price?

Back

Selling Price = $20 + ($20 × 0.25) = $25

Tags

CCSS.6.RP.A.3C

Front

What is the formula to find the total price after tax?

Back

Total Price = Cost Price + (Tax Rate × Cost Price)

Tags

CCSS.6.RP.A.3C

Front

If a book costs $10 and the tax is 8%, what is the total price?

Back

Total Price = $10 + ($10 × 0.08) = $10.80

Tags

CCSS.6.RP.A.3C