Sales tax, tip, discount, markup

Front

What is sales tax?

Back

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

Front

How do you calculate the sale price after a discount?

Back

To calculate the sale price after a discount, subtract the discount amount from the original price. Discount amount = Original price x Discount rate.

Front

What is a tip?

Back

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

Front

How do you calculate a tip?

Back

To calculate a tip, multiply the total bill amount by the tip percentage. Tip amount = Total bill x Tip rate.

Front

What is a discount?

Back

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

Front

How do you calculate the amount of discount?

Back

To calculate the discount amount, multiply the original price by the discount percentage. Discount amount = Original price x Discount rate.

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.

Front

How do you calculate markup?

Back

To calculate markup, multiply the cost price by the markup percentage. Markup amount = Cost price x Markup rate.

Front

If a pair of shoes costs $55 and is on sale for 25% off, what is the sale price?

Back

The sale price is $41.25.

Front

If Eli buys pants for $25.00 and the sales tax is 5%, how much sales tax does he pay?

Back

Eli pays $1.25 in sales tax.