Discount/ Tax /Tip/ MarkUp 6E

Front

What is markup?

Back

Markup is the amount added to the cost price of a product to determine its selling price, usually expressed as a percentage of the cost price.

Front

How do you calculate the selling price with markup?

Back

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

Front

If a shirt costs $15 and has an 85% markup, what is the selling price?

Back

Selling Price = $15 + (0.85 × $15) = $27.75

Front

What does '30% off' mean?

Back

'30% off' means that the price of an item is reduced by 30% of its original price.

Front

How do you calculate the savings from a discount?

Back

Savings = Discount Percentage × Original Price

Front

If a DVD costs $15 and is 30% off, how much do you save?

Back

Savings = 0.30 × $15 = $4.50

Front

What is a tip?

Back

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

Front

How do you calculate a tip?

Back

Tip = Tip Percentage × Total Bill Amount

Front

If you leave an 18% tip on a $75 dinner, how much is the tip?

Back

Tip = 0.18 × $75 = $13.50

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.