Markups and Markdowns

Front

What is a markup?

Back

A markup is an increase in the original price of a product, often expressed as a percentage of the cost price.

Front

What is a markdown?

Back

A markdown is a reduction in the original price of a product, often expressed as a percentage of the original price.

Front

How do you calculate the total amount after adding a tip?

Back

To calculate the total amount after adding a tip, multiply the original bill by 125% (or 1.25).

Front

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

Back

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

Front

If a product originally priced at $80 is marked down by 25%, what is the sale price?

Back

Sale price = $80 - (25% of $80) = $80 - $20 = $60.

Front

What does a 15% off coupon mean?

Back

A 15% off coupon means you will pay 85% of the original price.

Front

How do you express a 30% discount as a percentage of the original price?

Back

A 30% discount means you pay 70% of the original price.

Front

What is the formula to find the final price after a markdown?

Back

Final price = Original price - (Markdown percentage × Original price).

Front

If a restaurant bill is $100 and you want to leave a 20% tip, how much will you pay in total?

Back

Total amount = $100 + (20% of $100) = $100 + $20 = $120.

Front

What is the difference between markup and markdown?

Back

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