Markup/Markdown

Front

What is markup?

Back

Markup is the amount added to the cost price of a product to determine its selling price. It is usually expressed as a percentage of the cost price.

Front

What is markdown?

Back

Markdown is a reduction in the original selling price of a product. It is often used to encourage sales and clear out inventory.

Front

How do you calculate the total cost with sales tax?

Back

Total Cost = Price + (Price x Sales Tax Rate). For example, if the price is $6.15 and the tax rate is 7%, the total cost is $6.15 + ($6.15 x 0.07) = $6.58.

Front

What is the formula to find the sale price after a discount?

Back

Sale Price = Original Price - (Original Price x Discount Rate). For example, if a cell phone costs $210 and is 30% off, the sale price is $210 - ($210 x 0.30) = $147.

Front

How do you find the amount of discount?

Back

Discount Amount = Original Price x Discount Rate. For example, if a jacket costs $85 and is 40% off, the discount amount is $85 x 0.40 = $34.

Front

What is the selling price if an item has a markup?

Back

Selling Price = Cost Price + (Cost Price x Markup Rate). For example, if a soda costs $1.25 and has a 20% markup, the selling price is $1.25 + ($1.25 x 0.20) = $1.50.

Front

What is 82% as a decimal?

Back

0.82

Front

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

Back

Selling Price = $50 + ($50 x 0.10) = $55.

Front

If a shirt is originally priced at $40 and is marked down by 25%, what is the sale price?

Back

Sale Price = $40 - ($40 x 0.25) = $30.

Front

What is the total cost of an item priced at $20 with a 5% sales tax?

Back

Total Cost = $20 + ($20 x 0.05) = $21.