Taxes, Tip, Markup, Discount, Markdown

Front

What is a discount?

Back

A discount is a reduction in the regular price of a product or service, often expressed as a percentage.

Front

How do you calculate the sale price after a discount?

Back

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

Front

What is a tip?

Back

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

Front

How do you calculate the total bill including a tip?

Back

Total Bill = Meal Cost + (Meal Cost x Tip 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 the total cost including sales tax?

Back

Total Cost = Price + (Price x Sales Tax Percentage)

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.

Front

How do you calculate the selling price with markup?

Back

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

Front

What is a markdown?

Back

A markdown is a reduction in the original selling price of a product, often used to encourage sales.

Front

How do you calculate the new price after a markdown?

Back

New Price = Original Price - (Original Price x Markdown Percentage)