Tax, Tip, Discount, Commission, Percent of Change

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What is the percent of change?

Back

Percent of change is calculated by taking the difference between the new value and the original value, dividing it by the original value, and then multiplying by 100. For example, if a student grew from 60 inches to 66 inches, the percent of change is ((66-60)/60) * 100 = 10% increase.

Front

How do you calculate a tip?

Back

To calculate a tip, multiply the total bill amount by the tip percentage (as a decimal). For example, for a $38.65 bill with a 20% tip, the tip is 38.65 * 0.20 = $7.73.

Front

What is a discount?

Back

A discount is a reduction in the price of a product or service, usually expressed as a percentage of the original price. For example, a 15% discount on a $100 item means you save $15.

Front

How do you find the total cost after tax?

Back

To find the total cost after tax, multiply the original price by the tax rate (as a decimal) and add that to the original price. For example, for a $50 item with a 6% tax, the total cost is 50 + (50 * 0.06) = $53.

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What is commission?

Back

Commission is a fee paid to an employee or agent for their services, usually calculated as a percentage of the sales they generate. For example, if a salesperson earns a 10% commission on a $200 sale, they earn $20.

Front

How do you calculate the selling price after a markup?

Back

To calculate the selling price after a markup, multiply the cost price by the markup percentage (as a decimal) and add that to the cost price. For example, if a necklace costs $99 and has a 120% markup, the selling price is 99 + (99 * 1.20) = $217.80.

Front

What is the formula for percent increase?

Back

The formula for percent increase is: ((New Value - Original Value) / Original Value) * 100.

Front

What is the formula for percent decrease?

Back

The formula for percent decrease is: ((Original Value - New Value) / Original Value) * 100.

Front

How do you split a bill among friends?

Back

To split a bill, divide the total amount by the number of people sharing the cost. For example, if a bill is $32.85 and there are 3 people, each person pays 32.85 / 3 = $10.95.

Front

What is the total amount paid after including a tip?

Back

To find the total amount paid after including a tip, add the tip amount to the original bill. For example, if the bill is $38.65 and the tip is $7.73, the total amount paid is 38.65 + 7.73 = $46.38.