Review Percents: Tax, Tip, Markup, Discount, Change, Error

Front

What is a percent?

Back

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

Front

How do you calculate the final price after a discount?

Back

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

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 = Price + (Price × Sales Tax Rate)

Front

What is a markup?

Back

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

Front

How do you calculate the selling price with markup?

Back

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

Front

What is a discount?

Back

A discount is a reduction in the original price of a product or service.

Front

How do you calculate percent change?

Back

Percent Change = ((New Value - Old Value) / Old Value) × 100%.

Front

What is a percent increase?

Back

A percent increase is the amount that a value has grown, expressed as a percentage of the original value.

Front

What is a percent decrease?

Back

A percent decrease is the amount that a value has fallen, expressed as a percentage of the original value.