Discount, Tax, Tip, Markup, & Commission

Front

What is a tip?

Back

A tip is a small amount of money given to someone for their service, usually calculated as a percentage of the total bill.

Tags

CCSS.6.RP.A.3C

Front

How do you calculate a tip?

Back

To calculate a tip, multiply the total bill by the tip percentage (as a decimal). For example, for an 18% tip on a $67.45 bill, calculate 67.45 x 0.18.

Tags

CCSS.6.RP.A.3C

Front

What is a discount?

Back

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

Tags

CCSS.6.RP.A.3C

Front

How do you calculate the final price after a discount?

Back

To find the final price after a discount, subtract the discount amount from the original price. For example, if an item costs $100 and has a 20% discount, the discount is $20, making the final price $80.

Tags

CCSS.6.RP.A.3C

Front

What is tax?

Back

Tax is a mandatory financial charge imposed by a government on income, goods, or services.

Tags

CCSS.6.RP.A.3D

Front

How do you calculate sales tax?

Back

To calculate sales tax, multiply the price of the item by the sales tax rate (as a decimal). For example, for a $50 item with a 5% tax, calculate 50 x 0.05.

Tags

CCSS.6.RP.A.3B

Front

What is markup?

Back

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

Tags

CCSS.6.RP.A.3B

Front

How do you calculate markup?

Back

To calculate markup, subtract the cost price from the selling price, then divide by the cost price and multiply by 100 to get a percentage.

Tags

CCSS.6.RP.A.3C

Front

What is commission?

Back

Commission is a fee paid to an employee or agent for their services, typically calculated as a percentage of the sales they generate.

Tags

CCSS.6.RP.A.3C

Front

How do you calculate commission?

Back

To calculate commission, multiply the total sales by the commission rate (as a decimal). For example, for $1,000 in sales with a 10% commission, calculate 1000 x 0.10.

Tags

CCSS.6.RP.A.3C