Percents: Taxes, Markup, and Discounts

Front

What is a percent?

Back

A percent is a way to express a number as a fraction of 100. It is often used to compare ratios and express how much of something there is in relation to a whole.

Front

How do you calculate sales tax?

Back

To calculate sales tax, multiply the price of the item by the sales tax rate (as a decimal). For example, for a $30 item with a 6% tax rate: $30 x 0.06 = $1.80.

Tags

CCSS.6.RP.A.3B

Front

What is markup?

Back

Markup is the amount added to the cost price of goods to cover overhead and profit. It is usually expressed as a percentage of the cost price.

Tags

CCSS.6.RP.A.3C

Front

How do you calculate the selling price after markup?

Back

To find the selling price after markup, add the markup amount to the original cost. For example, if an item costs $50 and has an 8% markup: $50 + ($50 x 0.08) = $54.

Tags

CCSS.7.RP.A.3

Front

What is commission?

Back

Commission is a fee paid to an employee based on the sales they make. It is often expressed as a percentage of the total sales.

Tags

CCSS.6.RP.A.3C

Front

How do you calculate commission earned?

Back

To calculate commission earned, multiply the total sales by the commission rate. For example, if sales are $5450 and the commission rate is 8%: $5450 x 0.08 = $436.

Tags

CCSS.6.RP.A.3C

Front

What is 10% of a number?

Back

To find 10% of a number, divide the number by 10. For example, 10% of 150 is 150 ÷ 10 = 15.

Tags

CCSS.6.RP.A.3C

Front

How do you convert a percent to a fraction?

Back

Front

What is the formula for calculating a percentage?

Back

The formula for calculating a percentage is: Percentage = (Part/Whole) x 100.

Front

How do you find the discount amount?

Back

To find the discount amount, multiply the original price by the discount rate (as a decimal). For example, for a $50 item with a 20% discount: $50 x 0.20 = $10.

Tags

CCSS.6.RP.A.3C