Markups/Markdowns and Percent Change

Front

What is a percent change?

Back

Percent change is a way to express a change in value as a percentage of the original value. It is calculated using the formula: ((New Value - Old Value) / Old Value) x 100.

Front

How do you calculate the percent change when the number of students increases from 35 to 42?

Back

Percent Change = ((42 - 35) / 35) x 100 = (7 / 35) x 100 = 20%.

Front

What is the formula to calculate the sale price after a discount?

Back

Sale Price = Original Price - (Original Price x Discount Rate).

Front

If a bracelet costs $44 and is on sale for 25% off, what is the sale price?

Back

Sale Price = $44 - ($44 x 0.25) = $44 - $11 = $33.

Front

What does a 40% markup mean?

Back

A 40% markup means that the selling price is 40% higher than the cost price. Selling Price = Cost Price + (Cost Price x Markup Rate).

Front

How do you find the selling price if the cost is $4.99 with a 40% markup?

Back

Selling Price = $4.99 + ($4.99 x 0.40) = $4.99 + $1.996 = $6.99.

Front

What is the percent change when the cost of a movie ticket changes from $13 to $9?

Back

Percent Change = ((9 - 13) / 13) x 100 = (-4 / 13) x 100 ≈ -30.77%. This indicates a decrease.

Front

How do you calculate the discount amount on an item?

Back

Discount Amount = Original Price x Discount Rate.

Front

If a pair of boots costs $94.99 and is on sale for 25% off, what is the discount amount?

Back

Discount Amount = $94.99 x 0.25 = $23.7475, rounded to $23.75.

Front

What is the difference between markup and markdown?

Back

Markup is the amount added to the cost price to determine the selling price, while markdown is a reduction from the original selling price.