Sales Tax Tip Discount Markup Commission

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What is sales tax?

Back

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

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What is a discount?

Back

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

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How do you calculate the total cost after applying a discount?

Back

To calculate the total cost after a discount, subtract the discount amount from the original price.

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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.

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How do you calculate the selling price after markup?

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To calculate the selling price after markup, add the markup amount to the cost price.

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What is commission?

Back

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

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How do you calculate commission earned?

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To calculate commission earned, multiply the total sales amount by the commission rate.

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What is a tip?

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A tip is a small amount of money given to someone for their service, often expressed as a percentage of the total bill.

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How do you calculate the total amount paid including a tip?

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To calculate the total amount paid including a tip, add the tip amount to the original bill.

Front

If an item costs $100 and has a 15% discount, what is the final price?

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The final price is $85. (Calculation: $100 - ($100 * 0.15) = $85)