Discounts and Markups

Front

What is a discount?

Back

A discount is a reduction in the price of a product or service, often expressed as a percentage of the original price.

Front

How do you calculate the final price after applying a discount?

Back

Final Price = Original Price - (Discount Percentage × Original Price)

Front

What is a markup?

Back

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

Front

How do you calculate the final price after applying a markup?

Back

Final Price = Cost Price + (Markup Percentage × Cost Price)

Front

If an item costs $50 and has a 20% discount, what is the final price?

Back

Final Price = $50 - (0.20 × $50) = $40.

Front

If a board game costs $12.33 and is marked up by 35%, what is the final price?

Back

Final Price = $12.33 + (0.35 × $12.33) = $16.65.

Front

What is the formula to calculate the tip amount?

Back

Tip Amount = Total Bill × Tip Percentage.

Front

If Daniel's meal costs $28.00 and he leaves a 20% tip, how much is the tip?

Back

Tip = $28.00 × 0.20 = $5.60.

Front

What is sales tax?

Back

Sales tax is a percentage added to the price of goods and services, collected by the seller and paid to the government.

Front

How do you calculate the total cost including sales tax?

Back

Total Cost = Original Price + (Sales Tax Percentage × Original Price)