Sales tax, tip, discount, markup

Front

What is sales tax?

Back

Sales tax is a percentage of the sale price of goods or services that is 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 sale price by the sales tax rate (as a decimal). For example, for a $100 item with an 8% tax rate, the tax is $100 x 0.08 = $8.

Tags

CCSS.6.RP.A.3B

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

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

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 sale price after a discount?

Back

To calculate the sale price, subtract the discount amount from the original price. For example, if an item costs $80 and has a 25% discount, the discount is $80 x 0.25 = $20, so the sale price is $80 - $20 = $60.

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 price.

Tags

CCSS.6.RP.A.3C

Front

How do you calculate markup?

Back

To calculate markup, multiply the cost price by the markup percentage (as a decimal). For example, if an item costs $30 and has a 20% markup, the markup is $30 x 0.20 = $6, making the selling price $30 + $6 = $36.

Tags

CCSS.6.RP.A.3C

Front

If a pair of jeans costs $19.99 and is marked up by 20%, what is the amount of markup?

Back

The amount of markup is $4.00.

Tags

CCSS.6.RP.A.3C

Front

If a pair of shoes costs $55 and is on sale for 25% off, what is the sale price?

Back

The sale price is $41.25.

Tags

CCSS.6.RP.A.3C