Calculating Discounts, Markups, Taxes, and Tips

This video tutorial covers the concepts of discount, markup, tax, and tip. It explains the vocabulary associated with these terms and provides examples of how to calculate each. The tutorial demonstrates how to find the sales price after a discount, the final price after a markup, and the total cost including tax and tip. Practical examples, such as buying a TV, Jordans, and a PlayStation 5, are used to illustrate these calculations.

What is the term for the money saved from a sale?

• Markup

• Tax

• Tip

• Discount

If a company sells a shirt for $20 but it costs them $5 to make, what is the markup?

• $5

• $15

• $20

• $25

How do you calculate the sales price after a discount?

• Subtract the discount from the original price

• Add the discount to the original price

• Multiply the discount by the original price

• Divide the original price by the discount

A TV originally costs $999 and is on sale for 30% off. How much do you save?

• $299.70

• $699.30

• $999.00

• $30.00

What is the final price of a TV that originally costs $999 after a 30% discount?

• $999.00

• $699.30

• $30.00

• $299.70

If Nike makes a pair of Jordans for $16 and sells them with a 640% markup, what is the markup amount?

• $16.00

• $102.40

• $118.40

• $640.00

What is the final price of a pair of Jordans that cost $16 to make with a 640% markup?

• $640.00

• $102.40

• $118.40

• $16.00

In Virginia, a PlayStation 5 costs $499 with a 5% sales tax. How much is the sales tax?

• $99.80

• $49.90

• $24.95

• $5.00

What is the total cost of a PlayStation 5 in Virginia, including a 5% sales tax?

• $499.00

• $523.95

• $529.00

• $524.95

How is a tip calculated in relation to the original price?

• Add the tip to the original price

• Subtract the tip from the original price

• Multiply the tip by the original price

• Divide the original price by the tip