Taxes, Tips, Markups, Discounts

Front

What is a discount?

Back

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

Tags

CCSS.6.RP.A.3C

Front

How do you calculate the sale price after a discount?

Back

Sale Price = Regular Price - (Regular Price x Discount Percentage)

Tags

CCSS.6.RP.A.3C

Front

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

Back

Sale Price = $50 - ($50 x 0.20) = $40.

Tags

CCSS.6.RP.A.3C

Front

What is sales tax?

Back

Sales tax is a percentage added to the price of goods and services, collected by the seller and paid to the government.

Tags

CCSS.6.RP.A.3C

Front

How do you calculate the total cost including sales tax?

Back

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

Tags

CCSS.7.RP.A.3

Front

If a meal costs $30 and the sales tax is 8%, what is the total cost?

Back

Total Cost = $30 + ($30 x 0.08) = $32.40.

Tags

CCSS.6.RP.A.3C

Front

What is a gratuity?

Back

A gratuity, or tip, is a sum of money given to service workers for their service, often expressed as a percentage of the total bill.

Tags

CCSS.L.11-12.4C

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

Front

How do you calculate gratuity on a meal?

Back

Gratuity = Meal Price x Gratuity Percentage

Tags

CCSS.6.RP.A.3C

Front

If a meal costs $50 and you want to leave a 15% tip, how much is the tip?

Back

Tip = $50 x 0.15 = $7.50.

Tags

CCSS.6.RP.A.3C

Front

What is a 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