Percents, mark up, mark down

Front

What is a percent?

Back

A percent is a way of expressing a number as a fraction of 100. It is denoted by the symbol '%'. For example, 50% means 50 out of 100.

Front

How do you convert a decimal to a percent?

Back

To convert a decimal to a percent, multiply the decimal by 100 and add the percent symbol. For example, 0.98 x 100 = 98%.

Front

What is markup?

Back

Markup is the amount added to the cost price of goods to cover overhead and profit. 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 used to encourage sales and is expressed as a percentage.

Front

How do you calculate the sale price after a markdown?

Back

Sale Price = Original Price - Discount.

Front

If an item costs $50 and has a 20% markup, what is the selling price?

Back

Selling Price = Cost Price + (Markup Percentage x Cost Price) = $50 + (0.20 x $50) = $60.

Front

If a shirt originally costs $40 and is marked down by 25%, what is the sale price?

Back

Sale Price = Original Price - (Markdown Percentage x Original Price) = $40 - (0.25 x $40) = $30.

Front

What is the formula to find the discount amount?

Back

Discount Amount = Original Price x Discount Percentage.

Front

How do you find the percent decrease?

Back

Percent Decrease = (Original Price - New Price) / Original Price x 100.

Front

If a computer's price drops from $600 to $450, what is the percent decrease?

Back

Percent Decrease = (600 - 450) / 600 x 100 = 25%.