Percents 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

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 with markup?

Back

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

Front

How do you calculate the sale price with markdown?

Back

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

Front

What is the formula for calculating interest earned?

Back

Interest Earned = Principal × Interest Rate × Time

Front

If an item costs $50 and has a 10% markup, what is the selling price?

Back

Selling Price = $50 + (10% of $50) = $55

Front

If a shirt originally costs $20 and is on sale for 15% off, what is the sale price?

Back

Sale Price = $20 - (15% of $20) = $17

Front

What does sales tax do to the price of an item?

Back

Sales tax is added to the price of an item, increasing the total cost.

Front

What is the difference between markup and markdown?

Back

Markup increases the price of an item, while markdown decreases it.