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. It is usually expressed as a percentage of the cost price.

Front

What is Markdown?

Back

Markdown is a reduction in the original selling price of a product. It is often expressed as a percentage off the original price.

Front

How do you calculate the final price after tax?

Back

To calculate the final price after tax, multiply the original price by the sales tax rate (as a decimal) and add that amount to the original price. Formula: Final Price = Original Price + (Original Price × Sales Tax Rate).

Front

If a shirt costs $10 and is on sale for 25% off, what is the sale price?

Back

Sale Price = Original Price - (Original Price × Discount Rate) = $10 - ($10 × 0.25) = $7.50.

Front

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

Back

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

Front

How do you find the amount of discount on an item?

Back

Discount Amount = Original Price × Discount Rate.

Front

If a jacket costs $85 and is 40% off, how much do you pay?

Back

Amount Paid = Original Price - (Original Price × Discount Rate) = $85 - ($85 × 0.40) = $51.

Front

What is the selling price if a product costs $1.25 and has a 20% markup?

Back

Selling Price = Cost Price + (Cost Price × Markup Rate) = $1.25 + ($1.25 × 0.20) = $1.50.

Front

What does it mean to have a 30% discount on a $210 cell phone?

Back

A 30% discount means you save 30% of $210, which is $63. The sale price would be $210 - $63 = $147.

Front

How do you calculate the percentage of a number?

Back

Percentage of a Number = (Percentage Rate × Number) / 100.