Discounts and Markups

Front

What is a markup?

Back

A markup is the amount added to the cost price of a product to determine its selling price, usually expressed as a percentage of the cost price.

Front

How do you calculate the selling price using markup?

Back

Selling Price = Cost Price + (Markup Percentage × Cost Price) or Selling Price = Cost Price × (1 + Markup Percentage).

Front

What is a discount?

Back

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

Front

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

Back

Sale Price = Original Price - (Discount Percentage × Original Price) or Sale Price = Original Price × (1 - Discount Percentage).

Front

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

Back

Selling Price = $50 + (10% of $50) = $50 + $5 = $55.

Front

If a pair of shoes is regularly priced at $64 and is on sale for 10% off, what is the sale price?

Back

Sale Price = $64 - (10% of $64) = $64 - $6.40 = $57.60.

Front

What is the formula to find the sale price after a percentage discount?

Back

Sale Price = Original Price × (1 - Discount Percentage).

Front

How do you find the final price after multiple discounts?

Back

To find the final price after multiple discounts, apply each discount sequentially to the price after the previous discount.

Front

If a store has a 30% off sale on jeans that cost $24, what is the sale price?

Back

Sale Price = $24 - (30% of $24) = $24 - $7.20 = $16.80.

Front

What is the difference between markup and discount?

Back

Markup increases the selling price above the cost price, while a discount reduces the selling price from the original price.