Mark up, Discount, tax

Front

What is the formula to calculate the sale price after a discount?

Back

Sale Price = Original Price - (Original Price × Discount Rate)

Front

If an item costs $100 and is marked down by 20%, what is the sale price?

Back

Sale Price = $100 - ($100 × 0.20) = $80

Front

What is the definition of 'markup'?

Back

Markup is the amount added to the cost price of goods to cover overhead and profit.

Front

How do you calculate the total cost including tax?

Back

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

Front

If a meal costs $60 and the tax rate is 8%, how much tax is paid?

Back

Tax = $60 × 0.08 = $4.80

Front

What is the definition of 'discount'?

Back

A discount is a reduction in the usual price of something.

Front

If a jacket originally costs $85 and is on sale for 40% off, how much does it cost?

Back

Cost = $85 - ($85 × 0.40) = $51

Front

What is the total cost of a $50 meal with a 15% tip?

Back

Total Cost = $50 + ($50 × 0.15) = $57.50

Front

How do you calculate the amount of tax on a purchase?

Back

Tax Amount = Purchase Price × Tax Rate

Front

If a pair of shoes costs $29.99 and is marked down by 10%, what is the sale price?

Back

Sale Price = $29.99 - ($29.99 × 0.10) = $26.99