Percents

Taxes, Tips, Discounts, Mark ups, & Commision

Introduction -

We use percentage everyday in our lives. When we go out to restraints, we use tips. Buying some clothes? You're going to have to pay tax. Going to buy something on sale? That's a discount. Starting a business? You'll need to mark up prices. Are you a car salesman? You'll have commission.

Taxes

Tips

Tips are what you pay the waitress at restaurants.

Let's say you were at Olive Garden and you get your bill back. You pay $32 for the meal. You have to give the waitress a tip, so you decide 15% of your bill goes to her. 15% of $32 is $4.80, so you'd end up paying $36.80.

Discounts

Discounts are money that is taken off of an item you have purchased.

For example, let's say that you go for a sale at districtlines.com/tyleroakley. A sweater costs $39.99 and the discount is 20%. 20% of $39.99 is $7.99. So, you subtract $7.99 from $39.99 and get $32. So the sweater costs $32.

Mark Ups

Mark ups are when you buy an item and raise the price to make a profit. Let's say you wanted to open a hair salon. You have to buy shampoo which is $10, and you mark it up to $14. That's a mark up of 140%

Commission

TRXYE is a new released EP by Australian singer Troye Sivan. He also released new TRXYE merchandise, including a sweater on his merch store. Commission is when you get payed a percent of things that you sell. Let's say Troye makes 7% for each sweater he sells. Each sweater costs $39.99. 7% of $39.99 is $2.79. so, he'd make $2.79 for 1 sweater.