Calculating percentages

Taxes

Taxes are the amount of money you pay in addition to the total amount of what you are paying. It is the percent in addition to the bill. Taxes pay for services such as schools.

Tips

A tip is the percent of the bill paid then added to the bill. A bill is the percent of the total amount. When calculating you add it to the total.

Discounts

A discount is the percent of the money taken away from the bill. It's the percent off the original price.

Commission

A commission is the percent made off of a sale. It is the percent of a number.

Markup

A markup is when you raise the original price of an item to make a profit.

Tax example

My bill at McDonalds was \$10.00 for a meal. I had to pay 6.75% tax. Therefore it would be \$10.68.

Tip example

When I went to Bob Evans I had a \$60.00. bill. I had to pay a tip of 12%. Therefore, I had to give a \$7.20 tip.

Discount example

I wanted a coat at Khols. The original price was \$50.00 and today there was a sale, so the price dropped from a 20% discount. So I had to pay \$10.00.

Commission example

I listed my car for \$5 ,000. Somebody bought it for 20% of the price. Therefore he bought it for \$1,000

Markup example

The original price of the apples was \$5.00. They marked it up by 3% Therefore the price is now \$5.15