Percent Markup and Markdown

Front

What is percent increase?

Back

Percent increase is the amount of increase expressed as a percentage of the original amount. It is calculated using the formula: ((New Value - Original Value) / Original Value) x 100.

Front

How do you calculate the sale price after a discount?

Back

To calculate the sale price after a discount, subtract the discount amount from the original price. The discount amount can be calculated as (Discount Percentage / 100) x Original Price.

Front

What is a markup?

Back

Markup is the amount added to the cost price of goods to cover overhead and profit. It is usually expressed as a percentage of the cost price.

Front

How do you calculate the selling price with markup?

Back

Selling Price = Cost Price + (Markup Percentage / 100) x Cost Price.

Front

What is percent markdown?

Back

Percent markdown is the amount of decrease in price expressed as a percentage of the original price. It is calculated using the formula: ((Original Price - Sale Price) / Original Price) x 100.

Front

If a shirt costs $20 and is marked up by 30%, what is the selling price?

Back

Selling Price = $20 + (30/100) x $20 = $20 + $6 = $26.

Front

What is the formula for calculating percent change?

Back

Percent Change = ((New Value - Old Value) / Old Value) x 100.

Front

What does it mean when a price is marked down?

Back

When a price is marked down, it means the price has been reduced from its original price, often to encourage sales.

Front

If a notebook is originally priced at $2.00 and is on sale for $1.50, what is the percent markdown?

Back

Percent Markdown = ((2.00 - 1.50) / 2.00) x 100 = (0.50 / 2.00) x 100 = 25%.

Front

What is the difference between markup and markdown?

Back

Markup is the amount added to the cost price to determine the selling price, while markdown is the amount subtracted from the original price to determine the sale price.