Sales tax, tip, discount, markup

Front

What is sales tax?

Back

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

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How do you calculate the amount of discount?

Back

To calculate the discount amount, multiply the original price by the discount percentage (in decimal form). For example, a 30% discount on a $50 jacket is calculated as $50 x 0.30 = $15.

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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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How do you calculate a tip?

Back

To calculate a tip, multiply the total bill by the tip percentage (in decimal form). For example, a 20% tip on a $38.28 meal is $38.28 x 0.20 = $7.66.

Front

What is a 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.

Front

How do you calculate the final price after a discount?

Back

To find the final price after a discount, subtract the discount amount from the original price. For example, if a jacket costs $50 and has a $15 discount, the final price is $50 - $15 = $35.

Front

What is a percentage?

Back

A percentage is a way of expressing a number as a fraction of 100, often used to describe proportions, such as discounts, tips, and taxes.

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How do you find the total cost including tax?

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To find the total cost including tax, multiply the original price by the tax rate (in decimal form) and add that amount to the original price. For example, for a $70 jacket with an 8% tax, the total cost is $70 + ($70 x 0.08) = $75.60.

Front

What is the formula for calculating a percentage of a number?

Back

The formula for calculating a percentage of a number is: (Percentage / 100) x Total Number.

Front

If a meal costs $46.00 and you want to leave a 15% tip, how much is the tip?

Back

The tip is calculated as $46.00 x 0.15 = $6.90.