Sales Tax Tip Discount Markup

Front

What is sales tax?

Back

A 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 amount of discount?

Back

To calculate the discount amount, multiply the original price by the discount percentage (in decimal form).

Front

If a DVD costs $15 and is marked 10% off, what is the discount amount?

Back

$1.50

Front

What is the sale price after applying a discount?

Back

Sale Price = Original Price - Discount Amount.

Front

If a jacket costs $85 and is 40% off, how much do you pay?

Back

You pay $51.

Front

What does 'markup' mean?

Back

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

Front

How do you find the sale price of an item after a discount?

Back

Subtract the discount from the original price.

Front

What is a tip?

Back

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

Front

How do you calculate sales tax?

Back

Sales Tax = Price of the item x Sales Tax Rate.

Front

If a TV costs $899 and the tax rate is 6.5%, how much tax do you pay?

Back

You pay $58.43 in tax.