Taxes, tips, markup, discount, percent

Front

What does a discounted price mean?

Back

The price has decreased.

Front

How do you calculate a tip?

Back

To calculate a tip, multiply the total bill by the tip percentage (e.g., 20%).

Front

If a meal costs $40.84, what is the tip for 20%?

Back

$8.17

Front

What is sales tax?

Back

Sales tax is a percentage added to the price of goods and services.

Front

If the sales tax is 6.0%, how do you find the total price of an item?

Back

Multiply the item price by the tax rate and add it to the original price.

Front

What is the total price of a smartphone that costs $170.41 with a 6.0% sales tax?

Back

$180.63

Front

How do you calculate the total cost of an item with tax?

Back

Total cost = Item price + (Item price × Tax rate).

Front

What is a commission rate?

Back

A commission rate is a percentage of sales that a salesperson earns as income.

Front

If Sharon sells $37,000 worth of items and earns 17% commission, how much does she make?

Back

$6,290.

Front

What is markup?

Back

Markup is the amount added to the cost price of goods to cover overhead and profit.