Topic 3 Review

Front

What is the formula to calculate the sale price after a discount?

Back

Sale Price = Original Price - (Original Price × Discount Rate)

Front

If a video game costs $39.99 and is on sale for 20% off, how much do you pay?

Back

$31.99

Front

How do you calculate a tip based on a bill amount?

Back

Tip = Bill Amount × Tip Percentage

Front

If a dinner bill is $26 and a 15% tip is left, how much is the tip?

Back

$3.90

Front

What is markup in retail?

Back

Markup is the amount added to the cost price of goods to cover overhead and profit.

Front

If a pair of shoes costs $55.25 and has an 87% markup, how do you find the selling price?

Back

Selling Price = Cost Price + (Cost Price × Markup Rate) = $103

Front

What is sales tax?

Back

Sales tax is a tax imposed on sales of goods and services, calculated as a percentage of the sale price.

Front

If Mrs. Ray's shirts total $35.50 and the sales tax is 4.5%, how much does she owe in total?

Back

Total Amount = $35.50 + ($35.50 × 0.045) = $37.10

Front

How do you calculate the total bill including a tip?

Back

Total Bill = Original Bill + Tip Amount

Front

If Angela spent $30.00 at a restaurant and leaves a 15% tip, what is her total bill?

Back

Total Bill = $30.00 + ($30.00 × 0.15) = $34.50