Markup and Markdown

Front

What is Markup?

Back

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

Tags

CCSS.6.RP.A.3C

Front

How do you calculate the Selling Price using Markup?

Back

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

Tags

CCSS.6.RP.A.3C

Front

What is the formula to find the Retail Price?

Back

Retail Price = Cost Price + Markup Amount

Tags

CCSS.6.RP.A.3B

Front

If a product costs $50 and has a markup of 20%, what is the selling price?

Back

Selling Price = $50 + (20% of $50) = $50 + $10 = $60

Tags

CCSS.6.RP.A.3C

Front

What is Discount?

Back

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

Tags

CCSS.6.RP.A.3C

Front

How do you calculate the Discounted Price?

Back

Discounted Price = Original Price - (Discount Percentage × Original Price)

Tags

CCSS.6.RP.A.3C

Front

If a bicycle costs $100 and has a 15% discount, what is the discounted price?

Back

Discounted Price = $100 - (15% of $100) = $100 - $15 = $85

Tags

CCSS.6.RP.A.3C

Front

What is the difference between Markup and Discount?

Back

Markup increases the selling price above the cost price, while discount reduces the selling price from the original price.

Tags

CCSS.6.RP.A.3C

Front

If a shirt costs $20 and is marked up by 50%, what is the retail price?

Back

Retail Price = $20 + (50% of $20) = $20 + $10 = $30

Tags

CCSS.6.RP.A.3C

Front

What does a 100% markup mean?

Back

A 100% markup means the selling price is double the cost price.

Tags

CCSS.6.RP.A.3C