Sales Tax, Discounts, Commission and Tips

Sales Tax/Markups/Tips

100

20% tax on $17.99 item.  What is the amount of tax?

answers: $3.60

200

40% markup on a $ 7.25 hat.  How much is the markup? What is the new price? 

$2.90

$10.15

300

10% tip on purchase of $358.79. What is the amount of tip?

$ 35.88

400

50% markup on skateboards which cost $340 to produce.  How much is the markup?

$170

500

A shirt is $60. A tie is $30. Tax is 8.5%.  Find the amount of tax on the purchase of the shirt and tie.

$7.65

Sales tax TOTALS/Discount Totals

100

$13.78 and 5% tax. What is the total price?

$14.47

200

$53.00 and 6% tax

$56.18

300

An item costs $18.45 and is on sale for 40% off. What is the sale price?

$11.07

400

An item costs $22.65 and is on sale for 35% off. What is the sale price?

$14.72

500

Charlene's lunch bill was $18.70. Calculate the total cost for lunch with 5% tax and a 15% tip.

Acceptable answers:

$22.59

$22.58

$22.44 

$22.45

Commissions

100

You make 6% of all your sales. You sell $1000. What do you earn?

$60

200

You earn  3% in commissions. Your sales were $20,000. What did you earn?

$600

300

You earn 5% in commissions. You had $40,000 in sales. What did you earn?

$2000

400

You get paid $500 a week, PLUS you earn 0.7% in commissions. Your sales are $50,000. What did you earn for the week?

$500 + $350= $850

500

Your choice:  (1)  3% in commissions and sales of $20,000 average per week or (2) $500 a week straight salary.   Which gets you higher earnings?  Commission, or salary?

Commission $600 versus salary $500

Interest

100

Sue takes out a $15,000 loan for 4 years at 6%. How much interest will she pay?

$3,600

200

Tim takes out a $200,000 mortgage for 30 years at 5%. How much interest will he pay?

$300,000

300

Lynn takes out a $5000 loan for 2 years at 12.5%. How much interest will she pay?

$1,250

400

Dana takes out a $3500 loan for 24 months at 14.25%. How much interest will she pay?

$997.50

To get the points, the answer must be $997.50

500

Bob takes out a $1700 loan for 9 months at 4.5%. How much interest will he pay?

$57.38

Percent of Change

100

Cost of an item was $10 five years ago. Now it is $22. What's the percent of change?

120%

200

Cost of an item was $19.50 five years ago. Now it is $32.00. What's the percent of change? Round to the nearest tenth (one number after the decimal).

64.1%

300

Cost of an item was $125.50 five years ago. Now it is $345. What's the percent of change? Round to the nearest tenth (one number after the decimal).

174.9%

400

MSU scored 58 points at their last game. Today, they scored 75 points. What's their percent of increase? Round to the nearest tenth (one number after the decimal).

29.3%

500

U of M scored 62 points at their last game. Today, they scored 49 points. What's their percent of decrease? Round to the nearest tenth (one number after the decimal).

21.0% or 21%