Vocab
A reduction in the price of something.
What is a discount?
Original price = $1,550.00
Percent discount = 32%
Discount = $496.00
Sale price = $1,054.00
Cost = $1,800.00
Percent Markup = 22%
Markup = $396
Retail Price = $2,196.00
The sales tax in Boise, Idaho, is 6%. Find the sales tax and total price based on the following purchase price.
Purchase price = $26.89
Sales tax = $1.61
Purchase price = $28.50
What is the formula for finding the cost of an item if there is a discount?
Sale price = original price - percent discount x original price
When the retailer charges more than the cost amount for goods.
What is a markup?
Original price = $27.50
Percent discount = 10%
Discount = $2.75
Sale Price = $24.75
Cost = $10.50
Percent Markup = 10%
Markup = $1.05
Retail Price = $11.55
The sales tax in Union County, Oregon, is 7%. Find the sales tax and total price based on the following purchase price.
Purchase price = $1,499.00
Sales Tax = $104.93
Total Price = $1,603.93
What is the formula for finding the cost of an item if there is a markup?
Retail price = cost + percent markup x cost
The amount applied to the sale of some goods and services in the US
What is sales tax?
A bed originally priced at $550 is on sale, with a 60% discount. What is the discount on the bed? What is the sale price of the bed?
Discount = $330
Sale price of bed = $220
A furniture outlet spends $360.00 to buy a bed. The store marks up the bed by 250%. What is the retail price of the bed?
The retail price of the bed is $1,260.00
Daryl decides to buy a new scooter in St. Louis, Missouri, where the sales tax is 9.68%. The scooter he chooses has a purchase price of $1,149. How much will Daryl pay in sales tax, and what is the total price he spends on the scooter?
Sales Tax = $111.22
Daryl pays = $1,260.22
What is the formula for finding the cost of an item with sales tax?
Total price = purchase price + purchase price x tax rate