Sales Tax, Tips, Markups, & Discounts

Front

What is sales tax?

Back

A sales tax is a percentage of the sale price of goods or services that is added to the total cost, collected by the seller and paid to the government.

Tags

CCSS.6.RP.A.3C

Front

How do you calculate the total cost including sales tax?

Back

Total Cost = Original Price + (Original Price x Sales Tax Rate)

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CCSS.7.RP.A.3

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.

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CCSS.RI.6.3

CCSS.RI.7.3

CCSS.RI.7.5

CCSS.RI.8.3

CCSS.RI.8.5

Front

How do you calculate a tip?

Back

Tip = Total Bill x Tip Percentage

Tags

CCSS.6.RP.A.3C

Front

What is a discount?

Back

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

Tags

CCSS.6.RP.A.3C

Front

How do you calculate the sale price after a discount?

Back

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

Tags

CCSS.6.RP.A.3C

Front

What is a markup?

Back

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

Tags

CCSS.6.RP.A.3C

Front

How do you calculate the sale price with a markup?

Back

Sale Price = Cost Price + (Cost Price x Markup Percentage)

Tags

CCSS.6.RP.A.3C

Front

If a meal costs $20 and the sales tax is 7%, what is the total cost?

Back

Total Cost = $20 + ($20 x 0.07) = $21.40

Tags

CCSS.6.RP.A.3C

Front

If a pair of boots costs $94.99 and is 25% off, what is the sale price?

Back

Sale Price = $94.99 - ($94.99 x 0.25) = $71.24

Tags

CCSS.6.RP.A.3C