C2 M2 T3 Markup and Discount

Front

What is markup?

Back

Markup 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

How do you calculate the sale price after markup?

Back

Sale Price = Cost Price + (Markup Percentage × Cost Price)

Front

What is a discount?

Back

A discount is a reduction in the original price of a product, usually expressed as a percentage.

Front

How do you calculate the sale price after a discount?

Back

Sale Price = Original Price - (Discount Percentage × Original Price)

Front

What is the formula to find the amount saved from a discount?

Back

Amount Saved = Discount Percentage × Original Price

Front

If a video game costs $32 and has a 75% markup, what is the sale price?

Back

Sale Price = $32 + (0.75 × $32) = $56.00

Front

If a pair of shoes is originally priced at $80 and has a 30% discount, what is the sale price?

Back

Sale Price = $80 - (0.30 × $80) = $56.00

Front

How much do you save on a jacket marked at $120 with a 20% discount?

Back

Amount Saved = 0.20 × $120 = $24.00

Front

What is the discount amount on a product originally priced at $55 with a 25% discount?

Back

Discount Amount = 0.25 × $55 = $13.75

Front

If shorts are on sale for $14 after a 60% discount, what was the original price?

Back

Original Price = Sale Price / (1 - Discount Percentage) = $14 / (1 - 0.60) = $35.00