Taxes, Tips, Markups, Discounts

Front

What is the formula to calculate percent change?

Back

Percent Change = ((New Value - Old Value) / Old Value) * 100

Front

If a product costs $100 and is marked up by 25%, what is the new price?

Back

New Price = $100 + ($100 * 0.25) = $125

Front

What does a discount of 20% mean?

Back

A discount of 20% means you pay 80% of the original price.

Front

How do you calculate the sale price after a discount?

Back

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

Front

What is a tip?

Back

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

Front

If a dinner costs $50 and you leave a 15% tip, how much is the tip?

Back

Tip = $50 * 0.15 = $7.50

Front

What is the total cost if the dinner is $50 and the tax is 8%?

Back

Total Cost = $50 + ($50 * 0.08) = $54

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 a reduction from the original selling price.

Front

If an item is originally priced at $200 and is on sale for 30% off, what is the sale price?

Back

Sale Price = $200 - ($200 * 0.30) = $140

Front

What is the total cost of a $15 meal with a 10% tax?

Back

Total Cost = $15 + ($15 * 0.10) = $16.50