Percentages (tax, tip, commission, markup, discount)

Front

What is a percentage?

Back

A percentage is a way of expressing a number as a fraction of 100. It is often used to compare relative sizes or to calculate discounts, taxes, and tips.

Front

How do you calculate percent decrease?

Back

Percent decrease is calculated by taking the difference between the original value and the new value, dividing that by the original value, and then multiplying by 100. Formula: ((Original - New) / Original) x 100.

Front

What is a tip?

Back

A tip is a small amount 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 (expressed as a decimal). For example, for an 18% tip on a $75.45 bill: $75.45 x 0.18 = $13.58.

Front

What is a discount?

Back

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

Front

How do you calculate the sale price after a discount?

Back

To find the sale price after a discount, subtract the discount amount from the original price. Formula: Sale Price = Original Price - (Original Price x Discount Percentage).

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 price.

Front

How do you calculate markup?

Back

To calculate markup, multiply the cost price by the markup percentage (expressed as a decimal) and add that to the cost price. Formula: Selling Price = Cost Price + (Cost Price x Markup Percentage).

Front

What is commission?

Back

Commission is a fee paid to an employee or agent for their services, typically calculated as a percentage of the sales they generate.

Front

How do you calculate commission?

Back

To calculate commission, multiply the total sales amount by the commission percentage (expressed as a decimal). For example, for $1000 in sales at a 5% commission: $1000 x 0.05 = $50.