Taxes, Tips, Markups, Discounts

Front

What is a discount?

Back

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

Front

How do you calculate the sale price after a discount?

Back

Sale Price = Regular Price - (Regular Price x Discount Percentage)

Front

What is a tip?

Back

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

Front

How do you calculate a tip?

Back

Tip Amount = Total Bill x Tip Percentage

Front

What is a markup?

Back

A markup is an increase in the price of a product or service, often expressed as a percentage of the cost.

Front

How do you calculate the selling price with a markup?

Back

Selling Price = Cost + (Cost x Markup Percentage)

Front

What is sales tax?

Back

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

Front

How do you calculate sales tax?

Back

Sales Tax = Price of Item x Sales Tax Rate

Front

If a mechanical pencil costs $6.50 and is discounted by 25%, what is the discount amount?

Back

Discount Amount = $6.50 x 0.25 = $1.63

Front

If a regular price is $174 and there is a 40% discount, what is the sale price?

Back

Sale Price = $174 - ($174 x 0.40) = $104.40