Discount, Tax, Mark-ups

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.

Front

How do you calculate the sale price after a discount?

Back

Sale Price = Original Price - (Original Price x Discount Percentage)

Front

What is sales tax?

Back

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

Front

How do you calculate sales tax?

Back

Sales Tax = Price of Item x Sales Tax Rate

Front

What is a markup?

Back

A markup is an increase in the price of a product, usually expressed as a percentage of the cost price.

Front

How do you calculate the selling price with a markup?

Back

Selling Price = Cost Price + (Cost Price x Markup Percentage)

Front

If a shirt costs $20 and has a 30% discount, what is the sale price?

Back

Sale Price = $20 - ($20 x 0.30) = $14

Front

If a pair of shoes costs $50 and the sales tax is 8%, what is the total cost?

Back

Total Cost = $50 + ($50 x 0.08) = $54

Front

What does it mean to pay 106% for an item?

Back

Paying 106% means you are paying the original price plus an additional 6% in sales tax.

Front

How do you find the percentage of students taking the bus?

Back

Percentage = (Number of Students Taking the Bus / Total Students) x 100