Tax, Tip, Markup, and Discount Lesson

Markup and Discount

Remember....

• Discount means to take away or subtract (sale, discount)

• Markup means to add on. (markup, tax, tip, gratuity, commission)

A pickup is selling for $13,500. There is a promotion (sale) going on for 15% off the price. What is the discount I will receive on the pickup?

Mrs. Rexing's family goes out to eat. The bill after tax is $43.40. She likes to leave a 20% tip. How much will her final bill cost?