Sales tax, tip, discount, markup

Front

What is sales tax?

Back

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

Tags

CCSS.6.RP.A.3C

Front

How do you calculate sales tax?

Back

To calculate sales tax, multiply the purchase price by the sales tax rate (as a decimal). For example, for a $100 item with a 4% sales tax, the tax is $100 x 0.04 = $4.

Tags

CCSS.6.RP.A.3D

Front

What is a tip?

Back

A tip is a small amount of money given to service workers, such as waiters or hairdressers, as a way to show appreciation for their service.

Tags

CCSS.RI.6.3

CCSS.RI.6.5

CCSS.RI.7.3

CCSS.RI.7.5

CCSS.RI.8.5

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 meal with a 20% tip, the tip is $50 x 0.20 = $10.

Tags

CCSS.6.RP.A.3C

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

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 a $100 item with a 30% discount, the discount is $100 x 0.30 = $30.

Tags

CCSS.6.RP.A.3C

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

Front

How do you calculate the selling price using markup?

Back

To calculate the selling price, add the markup amount to the cost price. For example, if an item costs $50 and has a 20% markup, the selling price is $50 + ($50 x 0.20) = $60.

Tags

CCSS.6.RP.A.3C

Front

If an item costs $135.75 and the sales tax is 4%, how much will the total cost be?

Back

The total cost will be $135.75 + ($135.75 x 0.04) = $141.18.

Tags

CCSS.6.RP.A.3C

Front

If a jacket originally costs $50 and is on sale for 30% off, what is the discount amount?

Back

The discount amount is $50 x 0.30 = $15.

Tags

CCSS.6.RP.A.3C