Section 7.1: Discount, Sale Price, and Sales Tax Situation
Essential Ideas

• Discount     DISCOUNT = (ORIGINAL PRICE)(PERCENT MARKDOWN)

• Sale Price Formula     SALE PRICE = (ORIGINAL PRICE)(COMPLEMENT OF MARKDOWN)

• Two positive numbers less than 1 are called complements if their sum is 1.

• Discount Formulas

    DISCOUNT:                 d = pm
    SALE PRICE:              s = p - d or s = p - d
    ORIGINAL PRICE:    p = s/c
    COMPLEMENT:       c = s/p

• Sales Tax Formula     SALES TAX = (ORIGINAL PRICE)(TAX RATE)

• Price     (INCLUDING TAX)TOTAL PRICE = (ORIGINAL PRICE)(1 + TAX RATE)