Discounts and Markups: representing w/equations

Front

What is a percent discount?

Back

A percent discount is a reduction from the original price of an item, expressed as a percentage of the original price.

Front

How do you calculate the percent discount?

Back

Percent discount can be calculated using the formula: Percent Discount = (Original Price - Sale Price) / Original Price * 100.

Front

What is a markup?

Back

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

Front

How do you calculate the percent markup?

Back

Percent markup can be calculated using the formula: Percent Markup = (Selling Price - Cost Price) / Cost Price * 100.

Front

What is the equation to represent a sale price after a discount?

Back

The equation is Sale Price = Original Price x (1 - Discount Rate).

Front

What is the equation to represent the selling price based on cost and markup?

Back

The equation is Selling Price = Cost Price x (1 + Markup Rate).

Front

If an item is sold for $21 after a 30% discount, how do you find the original price?

Back

You can find the original price using the equation: Original Price = Sale Price / (1 - Discount Rate).

Front

What does it mean if a student earns 30% more points on a retake?

Back

It means the student's retake score is 130% of the original score.

Front

How do you represent a situation where a price is marked up?

Back

You can represent it with the equation: Selling Price = Cost Price + (Markup Percentage x Cost Price).

Front

What is the relationship between original price, sale price, and discount?

Back

The sale price is equal to the original price minus the discount.