Percentage Situations (ILC)

Front

What is a Gratuity (Tip)?

Back

A gratuity, or tip, is a sum of money given to someone for their services, typically in the hospitality industry, as a way to show appreciation.

Front

What is a Commission?

Back

A commission is a payment made to an employee based on the sales they generate, often expressed as a percentage of the sales amount.

Front

What is a Markdown (Discount)?

Back

A markdown is a reduction in the original price of a product, often used to encourage sales.

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

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 the final price after a discount?

Back

Final Price = Original Price - (Original Price x Discount Rate).

Front

How do you calculate sales tax?

Back

Sales Tax = Price of Item x Sales Tax Rate.

Front

If an item costs $100 and has a 20% discount, what is the sale price?

Back

Sale Price = $100 - ($100 x 0.20) = $80.

Front

If a shirt costs $40 and has a 10% sales tax, what is the total cost?

Back

Total Cost = $40 + ($40 x 0.10) = $44.

Front

What is the purpose of a coupon?

Back

A coupon is a voucher that provides a discount on a product or service, encouraging customers to make a purchase.