Markup, Discount, Tip, and Tax

Front

What is a discount?

Back

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

Front

How do you calculate the sale price after a discount?

Back

Sale Price = Original Price - (Original Price x Discount Percentage)

Front

What is markup?

Back

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

Front

How do you calculate the selling price after markup?

Back

Selling Price = Cost Price + (Cost Price x Markup Percentage)

Front

What is a tip?

Back

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

Front

How do you calculate the total cost including a tip?

Back

Total Cost = Bill Amount + (Bill Amount x Tip Percentage)

Front

What is tax?

Back

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

Front

How do you calculate the total cost including tax?

Back

Total Cost = Original Price + (Original Price x Tax Rate)

Front

If a CD costs $17 and has a discount of 50%, what is the sale price?

Back

$8.50

Front

If an oil change costs $21.95 and has a markup of 65%, what is the selling price?

Back

$36.22