7th Grade Math Milestone Review - Taxes, Discounts, Markups and Tips

Front

Discount is ____________ from the price.

Back

subtracted

Front

How much tax would you pay on a new TV that is $899 at Best Buy, if the tax rate is 6.5%?

Back

$58.44

Front

A pair of boots are $94.99. They are 25% off. What is the sale price?

Back

$71.24

Front

In a video store, a DVD that sells for $15 is marked 10% off. What is the amount of discount?

Back

$1.50

Front

Regular price: $174. Discount: 40%. Find the sale price.

Back

$104.40

Front

What is the formula to calculate the sale price after a discount?

Back

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

Front

If an item costs $50 and has a 20% markup, what is the selling price?

Back

$60

Front

What is the formula to calculate tax on a purchase?

Back

Tax = Purchase Price × Tax Rate

Front

If a restaurant bill is $80 and you want to leave a 15% tip, how much is the tip?

Back

$12

Front

What is the difference between markup and discount?

Back

Markup is the amount added to the cost price to determine the selling price, while discount is the amount subtracted from the original price.