Markups and Markdowns

Front

What is a markup?

Back

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

Tags

CCSS.6.RP.A.3C

Front

What is a markdown?

Back

A markdown is a reduction in the original selling price of a product. It is often used to encourage sales and is expressed as a percentage of the original price.

Tags

CCSS.6.RP.A.3C

Front

How do you calculate sales tax?

Back

Sales tax is calculated by multiplying the cost of the item by the sales tax rate (as a decimal). For example, if an item costs $50 and the sales tax is 5%, the sales tax is $50 x 0.05 = $2.50.

Tags

CCSS.6.RP.A.3C

Front

If an item costs $100 and has a 20% markup, what is the selling price?

Back

The selling price is $100 + ($100 x 0.20) = $100 + $20 = $120.

Tags

CCSS.6.RP.A.3C

Front

If a dining table originally costs $1,250 and is on sale for 45% off, how much do you save?

Back

You save $1,250 x 0.45 = $562.50.

Tags

CCSS.6.RP.A.3C

Front

What is the total cost if a meal costs $47.25 and a 20% tip is added?

Back

Total cost = $47.25 + ($47.25 x 0.20) = $47.25 + $9.45 = $56.70.

Tags

CCSS.6.RP.A.3C

Front

How do you determine if you qualify for a discount based on total purchases?

Back

Add the costs of all items. If the total exceeds the threshold for the discount, you qualify.

Front

If Leo's items cost $41.20, $13.90, $5.50, and $26.30, what is the total cost?

Back

Total cost = $41.20 + $13.90 + $5.50 + $26.30 = $87.90.

Tags

CCSS.6.NS.B.3

Front

What is the formula for calculating the selling price after a markdown?

Back

Selling Price = Original Price - (Original Price x Markdown Percentage).

Tags

CCSS.6.RP.A.3C

Front

If a toy car costs $15 and is marked up by 60%, what is the selling price?

Back

Selling price = $15 + ($15 x 0.60) = $15 + $9 = $24.

Tags

CCSS.6.RP.A.3C