Markup and Markdown

Front

What is sales tax?

Back

Sales tax is a percentage of the sale price that is added to the total cost of a purchase, collected by the seller and paid to the government.

Tags

CCSS.6.RP.A.3C

Front

How do you calculate the total cost with sales tax?

Back

To calculate the total cost with sales tax, multiply the price by the sales tax rate (as a decimal), then add that amount to the original price.

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CCSS.6.RP.A.3D

Front

What is a discount?

Back

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

Tags

CCSS.6.RP.A.3C

Front

How do you calculate the sale price after a discount?

Back

To calculate the sale price after a discount, multiply the original price by the discount rate (as a decimal), subtract that amount from the original price.

Tags

CCSS.6.RP.A.3B

Front

What is the formula to find the original price before a discount?

Back

The formula is: Original Price = Sale Price / (1 - Discount Rate).

Tags

CCSS.6.RP.A.3C

Front

If an item costs $100 and has a 20% discount, what is the sale price?

Back

Sale Price = $100 - ($100 * 0.20) = $80.

Tags

CCSS.6.RP.A.3C

Front

What does it mean to round to the nearest cent?

Back

Rounding to the nearest cent means adjusting a monetary amount to the closest hundredth place, ensuring it is expressed in standard currency format.

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CCSS.3.NBT.A.1

CCSS.4.NBT.A.3

Front

How do you find the price before tax if you know the total cost with tax?

Back

To find the price before tax, divide the total cost by (1 + tax rate as a decimal).

Tags

CCSS.6.RP.A.3B

Front

What is the tax rate in decimal form for 7%?

Back

The tax rate in decimal form for 7% is 0.07.

Front

If a video game costs $59.99 and has a sales tax of 8%, what is the total cost?

Back

Total Cost = $59.99 + ($59.99 * 0.08) = $64.79.

Tags

CCSS.6.RP.A.3C