Consumer Applications - Tips, Taxes, Discounts

Front

What is a discount?

Back

A reduction in the original price of a product or service.

Front

How do you calculate the sale price after a discount?

Back

Subtract the discount amount from the original price.

Front

What is the formula to calculate a percentage of a number?

Back

Percentage = (Part/Whole) x 100.

Front

If an item costs $50 and is on sale for 20% off, what is the discount amount?

Back

$10.

Front

What is sales tax?

Back

A tax imposed by the government on the sale of goods and services.

Front

How do you calculate the total price including sales tax?

Back

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

Front

What is a markup?

Back

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

Front

If a store buys a shirt for $20 and marks it up by 50%, what is the selling price?

Back

$30.

Front

What is a tip?

Back

A small amount of money given to someone for their service, usually a percentage of the total bill.

Front

How do you calculate a tip?

Back

Tip = Total Bill x Tip Percentage.