# Taxes,Tips,Mark Ups,Discounts,

## Taxes

• \$ paid in addition to an amount
• Percent added to final price
• Tax collected is used by government
• Tax varies per state/county
• Sales tax/income tax

## Discounts

• \$ off of bill
• Deduction of cost
• Extra discounts

## Mark Ups

• Price increasing/dropping with demand
• Percent of cost added to total

## Tips

A tip is when you give a percent of a percent of the total of something to your waiter/waitress.

## Commission

Commission is when you are paid a percent of the total sales of something.

## Tax,Tip and Discount example

I went to Applebee's and got a triple bacon burger meal for \$7.99 but it was burger Sunday, so all burgers were 10% off, so, I got a discount of \$0.79. The meal was \$7.20. Tax is 6.75% so the tax was \$0.49. The bill was \$7.69. And the waiter was great, so, I left a 70% tip, which was \$5.38. So, the total was \$14.50.

## Commission and Mark Ups example

One day, I decided to sell lemonade. So, I got some lemons, sugar, cups, posters, a pitcher, and made some lemonade. It was summer, so the supplies were cheap because they were in high demand. Then, got a table and put a sign on it. I sold the lemonade for \$0.25. The total sales were \$5 in 1 hour and I got 75% commission, so, I made \$3.75 in an hour.