Practice: Markup, Markdown, Discount

Front

What is a markdown?

Back

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

Tags

CCSS.6.RP.A.3C

Front

How do you calculate the discounted price after a markdown?

Back

To calculate the discounted price, subtract the markdown amount from the original price.

Tags

CCSS.6.RP.A.3B

Front

What is the formula for calculating a discount?

Back

Discount = Original Price x Discount Rate.

Tags

CCSS.6.RP.A.3B

Front

If an item costs $50 and has a 20% discount, what is the discounted price?

Back

$40.

Tags

CCSS.6.RP.A.3C

Front

What does markup mean in pricing?

Back

Markup is the amount added to the cost price of a product to determine its selling price.

Tags

CCSS.6.RP.A.3B

Front

How do you calculate the selling price using markup?

Back

Selling Price = Cost Price + Markup Amount.

Tags

CCSS.6.RP.A.3C

Front

If a product costs $30 and has a 25% markup, what is the selling price?

Back

$37.50.

Tags

CCSS.6.RP.A.3C

Front

What is the difference between markup and discount?

Back

Markup increases the price, while discount decreases the price.

Tags

CCSS.6.RP.A.3D

Front

If a store has a 15% markup on a $20 item, what is the selling price?

Back

$23.

Tags

CCSS.6.RP.A.3C

Front

What is the term for the original price before any markdowns or markups?

Back

The original price is often referred to as the 'list price' or 'retail price'.

Tags

CCSS.6.RP.A.3C