Tax/Tip/Discount/Mark-up

Front

What is a discount?

Back

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

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How do you calculate the amount of a discount?

Back

To calculate the amount of a discount, multiply the original price by the discount percentage (in decimal form).

Front

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

Back

Sale Price = Original Price - Discount Amount.

Front

What is a tip?

Back

A tip is a small amount of money given to someone for their service, typically calculated 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 (in decimal form).

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What is a mark-up?

Back

A mark-up is an increase in the price of a product, usually expressed as a percentage of the cost price.

Front

How do you calculate the selling price after a mark-up?

Back

Selling Price = Cost Price + (Cost Price x Mark-up Percentage).

Front

What is a tax?

Back

A tax is a mandatory financial charge imposed by a government on individuals or businesses, usually calculated as a percentage of income or sales.

Front

How do you calculate the total cost including tax?

Back

Total Cost = Original Price + (Original Price x Tax Percentage).

Front

What is the difference between a discount and a mark-up?

Back

A discount reduces the price of a product, while a mark-up increases the price.