Percents Of a Number
What Tips, Taxes, Discounts, Mark Ups, and Commissions are!
What are Taxes?
What are taxes? Taxes are the amount of money paid in addition to and amount. Taxes are when you add a certain percent to the final price. Every place has a different tax percent. Taxes are paid to the government to make buildings, and roads and to pay for the community and for schools. Taxes are paid to make a better community, we pay sales tax and income tax to help the community! For example if I went to Wendy's and bought a cheeseburger for $2.25 and tax was 17% in Virginia my total would be $2.63
What are Tips?
What are tips? Tips are when you give a percent of your total to a place. Waiters and waitress personally can get tips. Research shows that waiters that are paid tips make $3.78 and waiters that do get paid tips make $7.89. Tips are addition to tax. So for example if I got a check for $32.95 and I wanted to give a 17% tip I would give the waiter $11.20.
Discounts, Mark Ups, and Commission
What are discounts?
What are discounts? Discounts are when you get a certain percent of money taken of your bill. When doing discounts you would subtract of the cost from you original total. There are places that have extra discounts. for example if i went to American Eagle and they had a 60% discount on all clothing, and i bought two shirt my total would be $34.95, then with the 60% my final total would be $20.49.
What are Mark Ups?
What are mark ups? Mark ups are when there is a high demand for something so the owners increase the prices. Mark ups are also a percent of a something added to the original cost. So for example if I worked at a t.v store and the original price of a t.v was $129.99, if the demand was high the owner would increase the price to $159.99.
What is Commission
What is commission? Commission is based off what the company says you make on a product and for every product you sell you get that much money. So for example say I worked at Justic and for every shirt I sold I got $9.89, and I sold 12 shirts I would get $118.68 for commission.