Percents: Taxes, Markup, and Discounts

A percent is a way of expressing a number as a fraction of 100. It is denoted by the symbol '%'.

To convert a percent to a decimal, divide the percent by 100. For example, 73% becomes 0.73.

The formula is: (Percentage / 100) x Total Number.

A discount is a reduction in the price of a product or service, usually expressed as a percentage.

To calculate the discount amount, multiply the original price by the discount percentage (as a decimal).

Markup is the amount added to the cost price of goods to cover overhead and profit, usually expressed as a percentage.

Selling Price = Cost Price + (Markup Percentage x Cost Price).

A tip is a small amount of money given to someone for their service, often expressed as a percentage of the total bill.

To calculate a tip, multiply the total bill by the tip percentage (as a decimal).

Commission is a fee paid to an employee or agent for their services, usually calculated as a percentage of sales.