Markup Markdown Flashcard

Front

What is a markdown?

Back

A markdown is a reduction in the original price of a product, often expressed as a percentage.

Front

How do you calculate the final price after a markdown?

Back

Final Price = Original Price - (Markdown Percentage × Original Price)

Front

What is a markup?

Back

A markup is an increase in the original cost price of a product, usually expressed as a percentage.

Front

How do you calculate the selling price after a markup?

Back

Selling Price = Cost Price + (Markup Percentage × Cost Price)

Front

If a shirt costs $40 and is marked down by 15%, what is the final price?

Back

Final Price = $40 - (0.15 × $40) = $34

Front

If a toy costs $25 and is marked up by 40%, what is the selling price?

Back

Selling Price = $25 + (0.40 × $25) = $35

Front

What does it mean if an item is marked down by 10%?

Back

It means the price of the item is reduced by 10% of its original price.

Front

If a bicycle is sold for $180 after a 10% markdown, what was its original price?

Back

Original Price = Selling Price / (1 - Markdown Percentage) = $180 / (1 - 0.10) = $200

Front

If a store marks up all items by 30%, how do you find the selling price of an item that costs $50?

Back

Selling Price = $50 + (0.30 × $50) = $65

Front

What is the selling price of a book that costs $15 with a 20% markup?

Back

Selling Price = $15 + (0.20 × $15) = $18