Sales tax, tip, discount, markup
Flashcard
•
Mathematics
•
7th Grade
•
Hard
+4
Standards-aligned
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14 questions
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1.
FLASHCARD QUESTION
Front
What is sales tax?
Back
A 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.
Tags
CCSS.6.RP.A.3C
2.
FLASHCARD QUESTION
Front
How do you calculate the amount of sales tax?
Back
To calculate sales tax, multiply the sale price by the sales tax rate (as a decimal). For example, if an item costs $100 and the sales tax is 5%, the sales tax is $100 x 0.05 = $5.
Tags
CCSS.6.RP.A.3C
3.
FLASHCARD QUESTION
Front
What is a tip?
Back
A tip is a small amount of money given to someone for their service, typically in the hospitality industry, as a way to show appreciation.
Tags
CCSS.RI.6.3
CCSS.RI.7.3
CCSS.RI.7.5
CCSS.RI.8.3
CCSS.RI.8.5
4.
FLASHCARD QUESTION
Front
How do you calculate a tip?
Back
To calculate a tip, multiply the total bill by the tip percentage (as a decimal). For example, for a $50 bill with a 20% tip, the tip is $50 x 0.20 = $10.
Tags
CCSS.6.RP.A.3C
5.
FLASHCARD QUESTION
Front
What is a discount?
Back
A discount is a reduction in the price of a product or service, often expressed as a percentage of the original price.
Tags
CCSS.6.RP.A.3C
6.
FLASHCARD QUESTION
Front
How do you calculate the amount of a discount?
Back
To calculate a discount, multiply the original price by the discount percentage (as a decimal). For example, for an $80 item with a 30% discount, the discount is $80 x 0.30 = $24.
Tags
CCSS.6.RP.A.3C
7.
FLASHCARD QUESTION
Front
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 of the cost.
Tags
CCSS.6.RP.A.3C
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