Tax, Tip, Markup, Discount, etc.

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What is a discount?

Back

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

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How do you calculate the final price after a discount?

Back

To calculate the final price after a discount, subtract the discount amount from the original price.

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What is sales tax?

Back

Sales tax is a percentage of the purchase price that is added to the total cost of an item at the time of sale.

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How do you calculate sales tax?

Back

To calculate sales tax, multiply the purchase price by the sales tax rate (as a decimal).

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What is a tip?

Back

A tip is a small amount of money given to service workers, typically calculated as a percentage of the total bill.

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How do you calculate a tip?

Back

To calculate a tip, multiply the total bill by the tip percentage (as a decimal).

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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.

Front

How do you calculate markup?

Back

To calculate markup, multiply the cost price by the markup percentage (as a decimal) and add it to the cost price.

Front

What is the formula for finding the final cost after applying sales tax?

Back

Final Cost = Original Price + (Original Price × Sales Tax Rate)