Checkpoint #10: Finding Markup

Front

What is markup?

Back

Markup is the amount added to the cost price of a product to determine its selling price.

Front

How do you calculate the selling price using markup?

Back

Selling Price = Cost Price + Markup.

Front

If a product costs $10 and has a markup of 20%, what is the selling price?

Back

Selling Price = $10 + ($10 * 0.20) = $12.

Front

What is the formula to find the markup percentage?

Back

Markup Percentage = (Markup / Cost Price) * 100.

Front

If a store pays $50 for a shirt and marks it up by $15, what is the selling price?

Back

Selling Price = $50 + $15 = $65.

Front

What is a 75% markup on an item that costs $40?

Back

Markup = $40 * 0.75 = $30; Selling Price = $40 + $30 = $70.

Front

If a product is sold for $80 after a markup of $20, what was the cost price?

Back

Cost Price = Selling Price - Markup = $80 - $20 = $60.

Front

What does it mean to mark up a product by 900%?

Back

Marking up by 900% means the selling price is 9 times the cost price plus the original cost.

Front

If a store has a cost price of $25 and a selling price of $50, what is the markup amount?

Back

Markup = Selling Price - Cost Price = $50 - $25 = $25.

Front

How do you find the cost price if you know the selling price and markup?

Back

Cost Price = Selling Price - Markup.