Percent Increase and Decrease

Front

What is Percent Increase?

Back

Percent Increase is the amount by which a value increases, expressed as a percentage of the original value. Formula: ((New Value - Original Value) / Original Value) x 100.

Front

What is Percent Decrease?

Back

Percent Decrease is the amount by which a value decreases, expressed as a percentage of the original value. Formula: ((Original Value - New Value) / Original Value) x 100.

Front

How do you calculate the selling price after a markup?

Back

Selling Price = Cost Price + (Markup Percentage x Cost Price). Example: If a soda costs $1.25 and has a 20% markup, Selling Price = $1.25 + (0.20 x $1.25) = $1.50.

Front

How do you calculate tax on a purchase?

Back

Tax Amount = Purchase Price x Tax Rate. Example: For a TV costing $899 with a 6.5% tax rate, Tax Amount = $899 x 0.065 = $58.43.

Front

What is a markup?

Back

Markup is the amount added to the cost price of a product to determine its selling price. It is usually expressed as a percentage of the cost price.

Front

How do you calculate the total price after a markup?

Back

Total Price = Cost Price + Markup Amount. Example: If a book costs $4.25 with a 30% markup, Total Price = $4.25 + (0.30 x $4.25) = $5.53.

Front

How do you calculate a tip?

Back

Tip Amount = Bill Amount x Tip Percentage. Example: For a $20 lunch with a 20% tip, Tip Amount = $20 x 0.20 = $4.

Front

How do you find the final price after adding a tip?

Back

Final Price = Bill Amount + Tip Amount. Example: If your bill is $9.99 and you leave a 10% tip, Final Price = $9.99 + ($9.99 x 0.10) = $10.98.

Front

What is the formula for calculating percent change?

Back

Percent Change = ((New Value - Old Value) / Old Value) x 100.

Front

What does it mean to round to the nearest cent?

Back

Rounding to the nearest cent means adjusting a monetary amount to the closest hundredth place. Example: $1.456 rounds to $1.46.