Mark UP/DOWN

Mark UP/DOWN

Assessment

Flashcard

Mathematics

7th Grade

Practice Problem

Hard

CCSS
6.RP.A.3C, 6.RP.A.3B

Standards-aligned

Created by

Wayground Content

FREE Resource

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15 questions

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1.

FLASHCARD QUESTION

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

2.

FLASHCARD QUESTION

Front

How do you calculate the markup amount?

Back

Markup Amount = Cost Price x (Markup Percentage / 100)

Tags

CCSS.6.RP.A.3C

3.

FLASHCARD QUESTION

Front

If a notebook costs $1.50 and has a 20% markup, what is the selling price?

Back

Selling Price = Cost Price + Markup Amount = $1.50 + ($1.50 x 0.20) = $1.80.

Tags

CCSS.6.RP.A.3C

4.

FLASHCARD QUESTION

Front

What is a markdown?

Back

A markdown is a reduction in the original selling price of a product, often used to encourage sales.

Tags

CCSS.6.RP.A.3C

5.

FLASHCARD QUESTION

Front

How do you calculate the markdown amount?

Back

Markdown Amount = Original Price x (Markdown Percentage / 100)

Tags

CCSS.6.RP.A.3C

6.

FLASHCARD QUESTION

Front

If a pair of shoes originally costs $29.99 and is marked down by 10%, what is the discount amount?

Back

Discount Amount = $29.99 x 0.10 = $2.99.

Tags

CCSS.6.RP.A.3C

7.

FLASHCARD QUESTION

Front

What is the retail price after a markdown?

Back

Retail Price = Original Price - Markdown Amount.

Tags

CCSS.6.RP.A.3C

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