Financial Math: Percent, Discount, Markup, Sales Tax and Tips

A store has a 40% off sale on headphones. With this discount, the price of one pair of headphones is $45.

What is the original price of the pair of headphones?

Mathematical Equivalence

ON

Kamden just finished a great meal at a Raising Canes restaurant in Texas. The sales tax in Texas is 8.25%, and it is customary to leave a tip of 20 % for the server. The tip amount is calculated on the price of the meal before the tax is applied.

(Sales tax is not calculated on tips.)

If Kamden ordered a $15 meal, how much money will he have to pay with tax and tip?

Mathematical Equivalence

ON

Victor earns a base salary of $200 every week with an additional 14% commission on everything he sells. Victor sold $7,000 worth of items last week.

What was Victor's total pay last week before taxes are taken out?

Mathematical Equivalence

ON

A new book costs $19.99. The book is on sale for 20% off. The sales tax is 8.25%.

What is the total cost of the book after the discount and sales tax are applied to the nearest cent?

Mathematical Equivalence

ON

Nan hired a moving company. The company charged $600 for its services, and Nan gives the movers a 16% tip.

How much does Nan tip the movers?

Mathematical Equivalence

ON

Jarrett gets a new job that pays a salary of $36,000 per year. Suppose he gets a 2% raise at the end of his first year. He will be making _____ after 1 year.

Round your answer to the nearest whole dollar.

Mathematical Equivalence

ON

Answer explanation

To find Jarrett's salary after 1 year, calculate 2% of $36,000: 0.02 * 36,000 = $720. Add this to his original salary: 36,000 + 720 = $36,720. Therefore, he will be making $36,720 after 1 year.

When Makenzie started her last job, she was earning $28,000 a year. After 3 years, her salary was $29,120. The percent increase in her salary was (a)   .

• 3% increase

• 3.5% increase

• 4% increase
• 4.5% increase

Answer explanation

To find the percent increase, use the formula: ((new salary - old salary) / old salary) * 100. Here, ((29120 - 28000) / 28000) * 100 = 4%. Thus, the percent increase in her salary is a 4% increase.

In 2022 a 24 pack of Coca Cola, at regular price, cost $7.99. In 2024, a 24 pack of Coca Cola costs $12.99. What is the percent of increase from 2022 to 2024 on the price of a 24 pack of Coca Cola?

Round your percentage to the nearest whole percentage.

(a)  

Answer explanation

To find the percent increase, subtract the old price from the new price: $12.99 - $7.99 = $5.00. Then, divide the increase by the old price: $5.00 / $7.99 ≈ 0.6253. Multiply by 100 to get the percentage: 62.53%. Rounded, it's 63%.

Last year in 2022, Mr. Lapic charged $.75 for a chocolate, blueberry, or banana nut muffin. This year prices have risen. In 2024, the cost of one muffin is $1.25. What is the percent of increase for the cost of a muffin?

Round your answer to the nearest whole percentage.

(a)  

Answer explanation

To find the percent increase, use the formula: ((new price - old price) / old price) x 100. Here, ((1.25 - 0.75) / 0.75) x 100 = (0.50 / 0.75) x 100 = 66.67%. Rounding gives a 67% increase.

You are purchasing a T.V for $990 T.V with 9% sales tax. The final price of the T.V. with tax included is (a)   .

Answer explanation

To find the final price, calculate the sales tax: $990 * 0.09 = $89.10. Then add the tax to the original price: $990 + $89.10 = $1079.10. The final price of the T.V. is $1079.10.