Tax, Tip, Discount, and Commission

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 sale price after a discount?

Back

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

Front

What is a tip?

Back

A tip is a small amount of money given to someone for their service, typically calculated as a percentage of the total bill.

Front

How do you calculate the total amount paid including a tip?

Back

Total Amount = Bill Amount + (Tip Percentage x Bill Amount)

Front

What is a markup?

Back

A markup is an increase in the price of a product, usually expressed as a percentage of the cost price.

Front

How do you calculate the retail price after a markup?

Back

Retail Price = Cost Price + (Markup Percentage x Cost Price)

Front

What is commission?

Back

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

Front

How do you calculate commission?

Back

Commission = Sales Amount x Commission Rate

Front

If a pair of boots costs $94.99 and is 25% off, what is the sale price?

Back

Sale Price = $94.99 - (0.25 x $94.99) = $71.24

Front

If jeans cost $15 and are marked up by 42%, what is the retail price?

Back

Retail Price = $15 + (0.42 x $15) = $21.30