Consumer Math Warmup
Flashcard
•
Mathematics
•
6th - 8th Grade
•
Practice Problem
•
Hard
Wayground Content
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15 questions
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1.
FLASHCARD QUESTION
Front
What is a markup in consumer math?
Back
A markup is the amount added to the cost price of goods to cover overhead and profit. It is usually expressed as a percentage of the cost price.
2.
FLASHCARD QUESTION
Front
How do you calculate the amount of markup?
Back
To calculate the markup amount, multiply the cost price by the markup percentage (as a decimal). For example, if the cost is $5.35 and the markup is 40%, the markup amount is $5.35 * 0.40 = $2.14.
3.
FLASHCARD QUESTION
Front
What is percent decrease?
Back
Percent decrease is a measure of how much a quantity has decreased relative to its original amount, expressed as a percentage.
4.
FLASHCARD QUESTION
Front
How do you calculate percent decrease?
Back
Percent decrease = (Original amount - New amount) / Original amount * 100. For example, if sugar decreased from 65 grams to 52 grams, the percent decrease is (65 - 52) / 65 * 100 = 20%.
5.
FLASHCARD QUESTION
Front
What is percent increase?
Back
Percent increase is a measure of how much a quantity has increased relative to its original amount, expressed as a percentage.
6.
FLASHCARD QUESTION
Front
How do you calculate percent increase?
Back
Percent increase = (New amount - Original amount) / Original amount * 100. For example, if Kerry sold 13 boxes in the first week and 18 in the second week, the percent increase is (18 - 13) / 13 * 100 = 38%.
7.
FLASHCARD QUESTION
Front
What does '25% off' mean in sales?
Back
'25% off' means that the price of an item is reduced by 25% of its original price.
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