Percentages

Tips,taxes,discount,mark up,commission

Tips

Tips are when you pay someone extra after they have performed a service such as a waitress. You usually pay from 10% to20% depending on the quality. Such as paying a tip to the waiter at Olive Garden for a 9.00$ pasta dish is .90$

Taxes

Taxes are when the government takes a percent of your money and pays for services. Also it is when you pay more than the bill and you pay it annually. Like if you buy a candy bar for 1.00 with 7% tax is 1.07$.

Discount and mark up

Discount is when you have to pay less than usual. Mark up is when you have to pay more than usual. Mark bought a discounted chocolate bar on Black Friday. And a marked up candy bar the day after. The bar usually costs $1.00 on Black Friday he bought it for $.03 less and on the day after he bought it for $1.03. So the percentages for each were 3%

Commission

Commission is a percent made off of something. I got a job fixing cars with my dad and he paid me 30% commission. Today we fixed a Belvedere it was 320$ so with 30% commission I got paid 96$.

By Kolton Carson