5th period Percent - Markup and Markdown

Front

What is a percent?

Back

A percent is a ratio expressed as a fraction of 100. It represents a part of a whole.

Front

How do you calculate the percent of a number?

Back

To calculate the percent of a number, multiply the number by the percent (as a decimal). For example, 40% of 50 is 0.40 * 50 = 20.

Front

What is markup?

Back

Markup is the amount added to the cost price of goods to cover overhead and profit.

Front

What is markdown?

Back

Markdown is a reduction in the original selling price of a product.

Front

How do you calculate the selling price after markup?

Back

Selling Price = Cost Price + Markup Amount.

Front

How do you calculate the selling price after markdown?

Back

Selling Price = Original Price - Markdown Amount.

Front

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

Back

Selling Price = $50 + (20% of $50) = $50 + $10 = $60.

Front

If an item originally costs $80 and is marked down by 25%, what is the sale price?

Back

Sale Price = $80 - (25% of $80) = $80 - $20 = $60.

Front

What is the formula to find the original price before a markup?

Back

Original Price = Selling Price / (1 + Markup Rate).

Front

What is the formula to find the original price before a markdown?

Back

Original Price = Sale Price / (1 - Markdown Rate).