Markup/Markdown Practice

Front

What is markup in pricing?

Back

Markup is the amount added to the cost price of a product to determine its selling price.

Front

How do you calculate the selling price after a markup?

Back

Selling Price = Cost Price + (Cost Price × Markup Percentage)

Front

If a store buys an item for $20 and applies a 25% markup, what is the selling price?

Back

Selling Price = $20 + ($20 × 0.25) = $25.

Front

What is markdown in pricing?

Back

Markdown is the amount deducted from the original selling price of a product.

Front

How do you calculate the discounted price after a markdown?

Back

Discounted Price = Original Price - (Original Price × Markdown Percentage)

Front

If a product originally costs $50 and is marked down by 20%, what is the new price?

Back

Discounted Price = $50 - ($50 × 0.20) = $40.

Front

What is the difference between markup and markdown?

Back

Markup increases the price of an item, while markdown decreases the price.

Front

If an item is marked up by 40% and the cost price is $30, what is the selling price?

Back

Selling Price = $30 + ($30 × 0.40) = $42.

Front

What does a 50% markdown on a $60 item result in?

Back

Discounted Price = $60 - ($60 × 0.50) = $30.

Front

True or False: A markup can be expressed as a percentage of the cost price.

Back

True.