Mark UP/DOWN

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.

Front

How do you calculate the markup amount?

Back

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

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.

Front

What is a markdown?

Back

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

Front

How do you calculate the markdown amount?

Back

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

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.

Front

What is the retail price after a markdown?

Back

Retail Price = Original Price - Markdown Amount.

Front

If a bicycle has a wholesale cost of $75 and a markup of 55%, what is the retail price?

Back

Retail Price = Wholesale Cost + (Wholesale Cost x Markup Percentage) = $75 + ($75 x 0.55) = $116.25.

Front

What is the difference between markup and markdown?

Back

Markup increases the price of a product, while markdown decreases the price.

Front

If an item is on sale for $50 after a 20% markdown, what was the original price?

Back

Original Price = Sale Price / (1 - Markdown Percentage) = $50 / (1 - 0.20) = $62.50.