Tax, Tip, Discount, and Commission

Tax, Tip, Discount, and Commission

Assessment

Flashcard

Mathematics

6th - 8th Grade

Hard

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14 questions

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1.

FLASHCARD QUESTION

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.

2.

FLASHCARD QUESTION

Front

How do you calculate the sale price after a discount?

Back

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

3.

FLASHCARD QUESTION

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.

4.

FLASHCARD QUESTION

Front

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

Back

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

5.

FLASHCARD QUESTION

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.

6.

FLASHCARD QUESTION

Front

How do you calculate the retail price after a markup?

Back

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

7.

FLASHCARD QUESTION

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.

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