Summary: Solving Sales Tax, Commission, and Discount Applications
Key Concepts
- Sales Tax The sales tax is a percent of the purchase price.
- Commission A commission is a percentage of total sales as determined by the rate of commission.
- Discount An amount of discount is a percent off the original price, determined by the discount rate.
- Mark-up The mark-up is the amount added to the wholesale price, determined by the mark-up rate.
Glossary
- commission
- A commission is a percentage of total sales as determined by the rate of commission.
- discount
- An amount of discount is a percent off the original price, determined by the discount rate.
- mark-up
- The mark-up is the amount added to the wholesale price, determined by the mark-up rate.
- sales tax
- The sales tax is a percent of the purchase price.