Percents: Taxes, Markup, and Discounts

Front

What is a percent?

Back

A percent is a way of expressing a number as a fraction of 100. It is denoted by the symbol '%'.

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How do you convert a percent to a decimal?

Back

To convert a percent to a decimal, divide the percent by 100. For example, 73% becomes 0.73.

Front

What is the formula to calculate a percentage of a number?

Back

The formula is: (Percentage / 100) x Total Number.

Front

What is a discount?

Back

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

Front

How do you calculate the discount amount?

Back

To calculate the discount amount, multiply the original price by the discount percentage (as a decimal).

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 after markup?

Back

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

Front

What is a tip?

Back

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

Front

How do you calculate a tip?

Back

To calculate a tip, multiply the total bill by the tip percentage (as a decimal).

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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 sales.