Tips, Mark Ups and Tax 7PAR4.9

Front

What is a markup?

Back

A markup is an amount added to the cost price of goods to cover overhead and profit.

Front

How do you calculate sales tax?

Back

To calculate sales tax, multiply the purchase price by the sales tax rate (as a decimal) and add it to the original price.

Front

What is the formula to calculate the total cost including tax?

Back

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