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.

Tags

CCSS.6.RP.A.3C

Front

How do you calculate sales tax?

Back

To calculate sales tax, multiply the sale price by the sales tax rate (as a decimal). For example, for a $100 item with a 5% sales tax, the tax is $100 x 0.05 = $5.

Tags

CCSS.6.RP.A.3D

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.

Tags

CCSS.RI.6.3

CCSS.RI.6.5

CCSS.RI.7.3

CCSS.RI.7.5

CCSS.RI.8.3

Front

How do you calculate a tip?

Back

To calculate a tip, multiply the total bill by the tip percentage (as a decimal). For example, for a $50 bill with a 15% tip, the tip is $50 x 0.15 = $7.50.

Tags

CCSS.6.RP.A.3C

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.

Tags

CCSS.6.RP.A.3C

Front

How do you calculate a discount?

Back

To calculate a discount, multiply the original price by the discount rate (as a decimal) and subtract that amount from the original price. For example, a 20% discount on a $50 item is $50 x 0.20 = $10, so the sale price is $50 - $10 = $40.

Tags

CCSS.6.RP.A.3C

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 of the cost.

Tags

CCSS.6.RP.A.3C

Front

How do you calculate markup?

Back

To calculate markup, multiply the cost price by the markup percentage (as a decimal) and add that amount to the cost price. For example, a 25% markup on a $40 item is $40 x 0.25 = $10, so the selling price is $40 + $10 = $50.

Tags

CCSS.6.RP.A.3C

Front

If a pair of jeans costs $19.99 and is marked up by 20%, what is the amount of markup?

Back

$4.00

Tags

CCSS.6.RP.A.3C

Front

If a restaurant bill is $36.00 and the tip is 15%, how much should you leave as a tip?

Back

$5.40

Tags

CCSS.6.RP.A.3C