Mark-ups, Tax and Discounts

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What is a mark-up?

Back

A mark-up 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.

Tags

CCSS.6.RP.A.3C

Front

How do you calculate the amount of a mark-up?

Back

To calculate the amount of a mark-up, multiply the cost price by the mark-up percentage (in decimal form). For example, if a notebook costs $1.50 and has a 20% mark-up, the mark-up amount is $1.50 x 0.20 = $0.30.

Tags

CCSS.6.RP.A.3C

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What is the formula to find the selling price after a mark-up?

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Selling Price = Cost Price + Mark-up Amount. Alternatively, Selling Price = Cost Price x (1 + Mark-up Percentage).

Tags

CCSS.6.RP.A.3B

Front

If a dress costs $120 and is marked up by 40%, what is the selling price?

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Selling Price = $120 x (1 + 0.40) = $120 x 1.40 = $168.00.

Tags

CCSS.6.RP.A.3C

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What does a 30% mark-up mean?

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A 30% mark-up means that the selling price is 30% more than the cost price. For example, if a book costs $4.25, the selling price would be $4.25 x 1.30 = $5.53.

Tags

CCSS.6.RP.A.3C

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How do you express a percentage as a decimal?

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To express a percentage as a decimal, divide the percentage by 100. For example, 20% as a decimal is 20 ÷ 100 = 0.20.

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What is the total price of an item after a 50% mark-up on a $1,450 sofa?

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Total Price = $1,450 x (1 + 0.50) = $1,450 x 1.50 = $2,175.

Tags

CCSS.6.RP.A.3C

Front

If a board game costs $12.33 and is marked up by 35%, what is the total price?

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Total Price = $12.33 x (1 + 0.35) = $12.33 x 1.35 = $16.65.

Tags

CCSS.6.RP.A.3C

Front

What is a discount?

Back

A discount is a reduction in the original price of a product, usually expressed as a percentage.

Tags

CCSS.6.RP.A.3C

Front

How do you calculate the amount of a discount?

Back

To calculate the amount of a discount, multiply the original price by the discount percentage (in decimal form).

Tags

CCSS.6.RP.A.3B