Discounts and Markups

Front

What is a discount?

Back

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

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How do you calculate the discount amount?

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To calculate the discount amount, multiply the original price by the discount percentage (in decimal form). Formula: Discount Amount = Original Price × Discount Percentage.

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What is the formula to find the selling price after a discount?

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Selling Price = Original Price - Discount Amount.

Front

If a toy originally costs $45 and is now on sale for $36, what is the discount amount?

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The discount amount is $9.

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How do you calculate the discount percentage?

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Discount Percentage = (Discount Amount / Original Price) × 100.

Front

What is a markup?

Back

A markup is an increase in the original price of a product or service, usually expressed as a percentage.

Front

How do you calculate the markup amount?

Back

To calculate the markup amount, multiply the original price by the markup percentage (in decimal form). Formula: Markup Amount = Original Price × Markup Percentage.

Front

What is the formula to find the selling price after a markup?

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Selling Price = Original Price + Markup Amount.

Front

If a book originally costs $20 and is marked up by 40%, what is the new price?

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The new price is $28.

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A retailer buys a smartphone for $300 and marks it up by 20%. What is the selling price?

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The selling price is $360.