Percentage Applications

Front

What is the formula to calculate the total cost including sales tax?

Back

Total Cost = Price + (Price × Sales Tax Rate)

Front

How do you calculate the sales tax amount on a purchase?

Back

Sales Tax Amount = Price × Sales Tax Rate

Front

What is a markup percentage?

Back

A markup percentage is the amount added to the cost price of a product to determine its selling price.

Front

How do you calculate the selling price after applying a markup?

Back

Selling Price = Cost Price + (Cost Price × Markup Percentage)

Front

What is the formula to calculate the total cost including tip?

Back

Total Cost = Meal Cost + (Meal Cost × Sales Tax Rate) + (Meal Cost × Tip Percentage)

Front

How do you determine if a certain amount is enough to cover a meal, tax, and tip?

Back

Calculate the total cost (including tax and tip) and compare it to the amount available.

Front

What is the sales tax rate in decimal form if the sales tax is 7.5%?

Back

0.075

Front

How do you convert a percentage to a decimal?

Back

Divide the percentage by 100.

Front

What is the total cost of an item priced at $100 with a sales tax of 5%?

Back

Total Cost = $100 + ($100 × 0.05) = $105.

Front

If a product costs $50 and has a 20% markup, what is the selling price?

Back

Selling Price = $50 + ($50 × 0.20) = $60.