Percent Markup and Markdown

Percent Markup and Markdown

Assessment

Flashcard

Mathematics

7th Grade

Hard

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15 questions

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1.

FLASHCARD QUESTION

Front

What is percent markup?

Back

Percent markup is the percentage increase applied to the original price of an item to determine its selling price.

2.

FLASHCARD QUESTION

Front

What is percent markdown?

Back

Percent markdown is the percentage decrease applied to the original price of an item to determine its new selling price.

3.

FLASHCARD QUESTION

Front

How do you calculate the selling price after a markdown?

Back

Selling Price = (1 - m) x (Original Price), where m is the markdown percentage expressed as a decimal.

4.

FLASHCARD QUESTION

Front

How do you calculate the selling price after a markup?

Back

Selling Price = (1 + m) x (Original Price), where m is the markup percentage expressed as a decimal.

5.

FLASHCARD QUESTION

Front

If an item costs $50 and is marked down by 30%, what is the new selling price?

Back

$35

6.

FLASHCARD QUESTION

Front

If an item costs $5 and is marked up by 20%, what is the new selling price?

Back

$6

7.

FLASHCARD QUESTION

Front

What does a markdown indicate?

Back

A markdown indicates a decrease in the price of an item.

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