Markup and Markdown

Front

What is sales tax?

Back

Sales tax is a percentage of the sale price that is added to the cost of a product or service, collected by the seller and paid to the government.

Front

How do you calculate the total cost including sales tax?

Back

To calculate the total cost including sales tax, multiply the original price by the sales tax rate (as a decimal), then add that amount to the original price.

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 calculate the sale price after a discount, multiply the original price by the discount rate (as a decimal), subtract that amount from the original price.

Front

What is the formula for calculating sales tax?

Back

Sales Tax = Original Price x Sales Tax Rate.

Front

What is the formula for calculating the discount amount?

Back

Discount Amount = Original Price x Discount Rate.

Front

If a jacket costs $64 and has a 20% discount, what is the discount amount?

Back

Discount Amount = $64 x 0.20 = $12.80.

Front

If a shirt costs $45.50 and is on sale for 30% off, what is the sale price?

Back

Sale Price = $45.50 - ($45.50 x 0.30) = $31.85.

Front

What is the total cost of a trampoline that costs $220 with a sales tax of 6.25%?

Back

Total Cost = $220 + ($220 x 0.0625) = $233.75.

Front

If a CD player costs $99 and the sales tax is 5%, what is the total price?

Back

Total Price = $99 + ($99 x 0.05) = $103.95.