Tax, Tip, Markup

Front

What is a markup?

Back

A markup is the amount added to the cost price of a product to determine its selling price. It is usually expressed as a percentage of the cost price.

Front

How do you calculate the selling price with markup?

Back

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

Front

If a store pays $1.50 for a bag of candy and marks it up by 60%, what is the selling price?

Back

$2.40

Front

What is a tip?

Back

A tip is a small amount of money given to someone for their service, usually calculated as a percentage of the total bill.

Front

How do you calculate a tip?

Back

Tip = Total Bill × Tip Percentage

Front

If your bill is $27.31 and you want to leave a 23% tip, how much should you tip?

Back

$6.28

Front

What is sales tax?

Back

Sales tax is a tax imposed by the government on the sale of goods and services, usually calculated as a percentage of the sale price.

Front

How do you calculate the final price including sales tax?

Back

Final Price = Selling Price + (Sales Tax Percentage × Selling Price)

Front

If a TV costs $800 and is on sale for 33% off, what is the sale price?

Back

$536

Front

If the sales tax on a $536 TV is 6%, what is the final cost?

Back

$568.16