Review Percent: Inc/Dec, Markup,Discount, Tax and Tip

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 a discount?

Back

To calculate a discount, multiply the original price by the discount percentage (as a decimal) and subtract that amount from the original price.

Front

What is sales tax?

Back

Sales tax is a percentage added to the price of goods or services, collected by the seller and paid to the government.

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) and add that amount to the original price.

Front

What is markup?

Back

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

Front

How do you calculate markup?

Back

To calculate markup, multiply the cost price by the markup percentage (as a decimal) and add that amount to the cost price.

Front

What is a tip?

Back

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

Front

How do you calculate a tip?

Back

To calculate a tip, multiply the total bill by the tip percentage (as a decimal) and add that amount to the total bill.

Front

If a sweater costs $30 and is on sale for 25% off, how much do you save?

Back

You save $7.50.

Front

If a meal costs $65 and the tip is 15%, how much is the tip?

Back

The tip is $9.75.