Taxes, tips, markup, discount, percent

Front

What is a commission?

Back

A commission is a fee paid to an employee or agent for services rendered, typically calculated as a percentage of the sales made.

Front

How do you calculate a percentage of a number?

Back

To calculate a percentage of a number, multiply the number by the percentage (in decimal form). For example, 20% of 50 is 50 * 0.20 = 10.

Front

What is a tip?

Back

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

Front

How do you calculate a tip?

Back

To calculate a tip, multiply the total bill by the tip percentage (in decimal form). For example, for a $40 bill with a 20% tip, the tip is $40 * 0.20 = $8.

Front

What is a discount?

Back

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

Front

How do you find the sale price after a discount?

Back

To find the sale price, subtract the discount amount from the original price. Sale Price = Original Price - Discount.

Front

What is markup?

Back

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

Front

How do you calculate the sale price with markup?

Back

To calculate the sale price with markup, add the markup amount to the cost price. Sale Price = Cost Price + Markup.

Front

What is tax?

Back

Tax is a mandatory financial charge or levy imposed by a government on income, property, or sales.

Front

How do you calculate sales tax?

Back

To calculate sales tax, multiply the purchase price by the tax rate (in decimal form). For example, for a $100 item with a 6.5% tax, the tax is $100 * 0.065 = $6.50.