Discount, Markup, Tax, and Tip

Front

Sales tax is __________ to the price.

Back

added

Front

What is a discount?

Back

A reduction in the price of a product or service.

Front

What is markup?

Back

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

Front

What is a tip?

Back

A small amount of money given to someone for their services, typically in the hospitality industry.

Front

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

Back

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

Front

How do you calculate sales tax?

Back

Sales Tax = Price × Sales Tax Rate

Front

If a meal costs $12 and you leave a 20% tip, how much is the tip?

Back

Tip = $12 × 0.20 = $2.40

Front

If a TV costs $800 and is on sale for 33% off, what is the discount amount?

Back

Discount = $800 × 0.33 = $264

Front

What is the final cost of an item after applying a discount and adding sales tax?

Back

Final Cost = (Original Price - Discount) + Sales Tax

Front

If a concert ticket costs $100 and has a 21% discount, what is the price after the discount?

Back

Price after Discount = $100 - ($100 × 0.21) = $79