Mathematics Flashcard: Discount, Tax, Tip, Mark-up

Front

What is a discount?

Back

A discount is a reduction in the original price of an item, usually expressed as a percentage.

Front

How do you calculate the discount amount?

Back

To calculate the discount amount, multiply the original price by the discount percentage (in decimal form).

Front

If an item costs $100 and has a 15% discount, what is the discount amount?

Back

$15

Front

What is the sale price after applying a discount?

Back

The sale price is the original price minus the discount amount.

Front

If a pair of shoes is originally priced at $60 and is discounted by 30%, what is the sale price?

Back

$42

Front

What is a markup?

Back

A markup is an increase in the original cost of an item, usually expressed as a percentage.

Front

How do you calculate the selling price after markup?

Back

To calculate the selling price, add the markup amount to the original cost.

Front

If a store buys a shirt for $15 and marks it up by 40%, what is the selling price?

Back

$21

Front

What is sales tax?

Back

Sales tax is a percentage added to the price of goods and services, collected by the seller.

Front

How do you calculate the tax rate?

Back

To calculate the tax rate, divide the tax amount by the purchase price and multiply by 100.