Percent Study Guide

Front

What is a percent?

Back

A percent is a ratio expressed as a fraction of 100. It represents a part of a whole.

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How do you calculate a percentage of a number?

Back

To calculate a percentage of a number, multiply the number by the percentage (in decimal form). For example, to find 20% of 50, calculate 50 * 0.20 = 10.

Front

What is a markup?

Back

Markup is the amount added to the cost price of goods to cover overhead and profit. It is often expressed as a percentage of the cost price.

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How do you calculate the final price after a markup?

Back

To calculate the final price after a markup, multiply the original price by (1 + markup percentage). For example, if an item costs $100 and has a 20% markup, the final price is $100 * 1.20 = $120.

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What is sales tax?

Back

Sales tax is a tax imposed by the government on the sale of goods and services, usually expressed as a percentage of the sale price.

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How do you calculate the total cost including sales tax?

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To calculate the total cost including sales tax, multiply the original price by (1 + sales tax rate). For example, if an item costs $100 and the sales tax is 8%, the total cost is $100 * 1.08 = $108.

Front

What is a discount?

Back

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

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How do you calculate the sale price after a discount?

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To calculate the sale price after a discount, multiply the original price by (1 - discount percentage). For example, if an item costs $100 and has a 25% discount, the sale price is $100 * 0.75 = $75.

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What is a tip?

Back

A tip is a sum of money given to someone for their service, often expressed as a percentage of the total bill.

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How do you calculate the total cost including tip?

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To calculate the total cost including tip, multiply the total bill by (1 + tip percentage). For example, if the bill is $50 and the tip is 20%, the total cost is $50 * 1.20 = $60.