Markups & Discounts

Front

What is the formula to calculate the selling price with markup?

Back

Selling Price = Cost + (Cost * Markup Percentage)

Front

If an item costs $50 and has a markup of 10%, what is the selling price?

Back

$55

Front

What is the formula to calculate the selling price after a discount?

Back

Selling Price = Original Price - (Original Price * Discount Percentage)

Front

If an item has an original price of $30 and a discount of 10%, what is the selling price?

Back

$27

Front

What is a markup?

Back

Markup is the amount added to the cost price of goods to cover overhead and profit.

Front

What is a discount?

Back

A discount is a reduction in the original price of a product or service.

Front

If an item costs $80 and has a markup of 60%, what is the selling price?

Back

$128

Front

If an item has an original price of $299 and a discount of 75%, what is the selling price?

Back

$74.75

Front

How do you convert a percentage to a decimal for calculations?

Back

Divide the percentage by 100.

Front

What is the difference between markup and discount?

Back

Markup increases the price of an item, while a discount decreases the price.