Markup and Discount

Front

What is the formula to calculate a percentage of a number?

Back

To calculate a percentage of a number, use the formula: (Percentage / 100) * Total Number.

Front

How do you find the original price if you know the selling price and the discount percentage?

Back

To find the original price, use the formula: Original Price = Selling Price / (1 - (Discount Percentage / 100)).

Front

What is a discount?

Back

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

Front

How do you calculate the selling price after applying a discount?

Back

Selling Price = Original Price - (Discount Percentage / 100 * Original Price).

Front

What is the relationship between markup and discount?

Back

Markup is the amount added to the cost price to determine the selling price, while discount is the reduction from the selling price.

Front

If an item costs $50 and is marked up by 20%, what is the selling price?

Back

Selling Price = Cost Price + (Markup Percentage / 100 * Cost Price) = $50 + (20/100 * $50) = $60.

Front

What is 10% of 200?

Back

10% of 200 is calculated as (10/100) * 200 = 20.

Front

How do you convert a fraction to a percentage?

Back

To convert a fraction to a percentage, divide the numerator by the denominator and multiply by 100.

Front

What is the percentage increase if a price goes from $80 to $100?

Back

Percentage Increase = ((New Price - Old Price) / Old Price) * 100 = ((100 - 80) / 80) * 100 = 25%.

Front

What does it mean if an item is on sale for 30% off?

Back

It means that the item is being sold for 30% less than its original price.