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Tax, Interest, Markups & Commissions Quiz (6th Grade)

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Tax, Interest, Markups & Commissions Quiz (6th Grade)

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Math equations with tax, interest, markups, commissions

Created by

Brayden Tucker
Brayden Tucker
United States

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Tax, Interest, Markups & Commissions Quiz (6th Grade)
 

Tax, Interest, Markups & Commissions Quiz (6th Grade)Online version

Math equations with tax, interest, markups, commissions

by Brayden Tucker
1

Markup Amount = Cost + Markup Rate.

2

Price $15,000 with 3% tax costs $15,450 in total.

3

Markup Amount = Cost × Markup Rate.

4

Commission is calculated on tax amount only.

5

Interest = Principal + Rate × Time.

6

If tax rate is 0%, the total price becomes twice the original price.

7

Commission = Sale Price × Commission Rate.

8

Interest = Principal × Rate × Time for simple interest.

9

Total price with tax = Price × Tax Rate.

10

Total price = $20 + ($20 × 0.06) = $21.20 when tax is 6%.

 
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