Discount, Tax, Tip, Markup, & Commission

Front

What is a tip?

Back

A tip is a small amount of money given to someone for their service, usually in the hospitality industry, as a way to show appreciation.

Tags

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.6.4C

CCSS.L.9-10.4C

CCSS.L.11-12.4C

Front

How do you calculate a tip?

Back

To calculate a tip, multiply the total bill by the tip percentage (e.g., for an 18% tip on a $67.45 bill, calculate 67.45 * 0.18 = $12.14).

Tags

CCSS.6.RP.A.3C

Front

What is a discount?

Back

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

Tags

CCSS.6.RP.A.3C

Front

How do you calculate savings from a discount?

Back

To calculate savings from a discount, multiply the original price by the discount percentage (e.g., for a 15% discount on a $280 book, calculate 280 * 0.15 = $42).

Tags

CCSS.6.RP.A.3C

Front

What is tax?

Back

Tax is a mandatory financial charge imposed by a government on individuals or businesses, usually calculated as a percentage of income or sales.

Tags

CCSS.6.RP.A.3C

Front

How do you calculate tax on a purchase?

Back

To calculate tax, multiply the purchase price by the tax rate (e.g., for a $100 item with a 5% tax, calculate 100 * 0.05 = $5).

Tags

CCSS.7.RP.A.3

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.

Tags

CCSS.6.RP.A.3C

Front

How do you calculate the selling price with markup?

Back

To calculate the selling price with markup, add the markup amount to the cost price (e.g., if an item costs $50 and has a 20% markup, calculate 50 + (50 * 0.20) = $60).

Tags

CCSS.6.RP.A.3C

Front

What is commission?

Back

Commission is a fee paid to an agent or employee for their services, typically calculated as a percentage of the sales they generate.

Tags

CCSS.6.RP.A.3C

Front

How do you calculate commission?

Back

To calculate commission, multiply the total sales by the commission rate (e.g., for $1,000 in sales with a 10% commission, calculate 1000 * 0.10 = $100).

Tags

CCSS.6.RP.A.3C