Percent markups and discounts

Front

What is a percent markup?

Back

A percent markup is the amount added to the cost price of a product to determine its selling price, expressed as a percentage of the cost price.

Front

How do you calculate the selling price after a percent markup?

Back

Selling Price = Cost Price + (Cost Price × Percent Markup) / 100.

Front

What is a percent discount?

Back

A percent discount is a reduction from the original price of a product, expressed as a percentage of the original price.

Front

How do you calculate the sale price after a percent discount?

Back

Sale Price = Original Price - (Original Price × Percent Discount) / 100.

Front

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

Back

Sale Price = $50 - ($50 × 20 / 100) = $40.

Front

If a shirt originally costs $30 and is marked up by 15%, what is the new price?

Back

New Price = $30 + ($30 × 15 / 100) = $34.50.

Front

What does it mean to say an item has increased by 500%?

Back

An increase of 500% means the new price is 5 times the original price plus the original price, totaling 6 times the original price.

Front

If a painting costs $4,563 and increases by 500%, what is the new cost?

Back

New Cost = $4,563 + ($4,563 × 500 / 100) = $27,378.

Front

How much is saved when a $43.25 costume is bought with a 25% discount?

Back

Savings = $43.25 × 25 / 100 = $10.81.

Front

What is the formula to find the amount saved with a discount?

Back

Amount Saved = Original Price × Percent Discount / 100.