% Mark-Up and Mark-Down

Front

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, usually expressed as a percentage of the cost price.

Front

What is a mark-down?

Back

A mark-down is a reduction in the original selling price of a product, usually expressed as a percentage of the original price.

Front

How do you calculate the selling price after a mark-up?

Back

Selling Price = Cost Price + (Mark-up Percentage × Cost Price)

Front

How do you calculate the new price after a mark-down?

Back

New Price = Original Price - (Mark-down Percentage × Original Price)

Front

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

Back

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

Front

If a dress originally costs $80 and is marked down by 30%, what is the new price?

Back

New Price = $80 - (30% of $80) = $80 - $24 = $56.

Front

What is the formula to find the percentage of mark-down?

Back

Percentage of Mark-down = (Amount of Mark-down / Original Price) × 100%.

Front

If a notebook originally costs $2.00 and is marked up by 15%, what is the new price?

Back

New Price = $2.00 + (15% of $2.00) = $2.00 + $0.30 = $2.30.

Front

A Christmas tree originally sells for $200 and is now $80. What is the mark-down percentage?

Back

Mark-down Percentage = (($200 - $80) / $200) × 100% = (120 / 200) × 100% = 60%.

Front

What does it mean if an item is on sale?

Back

An item on sale typically means it is being offered at a reduced price, often through a mark-down.