Percents Markup and Markdown

Front

What is a percent?

Back

A percent is a ratio expressed as a fraction of 100. It represents a part of a whole.

Front

What does markup mean?

Back

Markup is the amount added to the cost price of goods to cover overhead and profit.

Front

What does markdown mean?

Back

Markdown is a reduction in the original selling price of a product.

Front

How do you calculate a percentage of a number?

Back

To calculate a percentage of a number, multiply the number by the percentage (in decimal form).

Front

What is 40% of 85?

Back

34

Front

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

Back

You save $34.

Front

What is the sale price of an item that costs $100 with a 25% discount?

Back

The sale price is $75.

Front

What is the formula for calculating the sale price after a markdown?

Back

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

Front

If a notebook is $1.50 with a 20% markup, what is the new price?

Back

The new price is $1.80.

Front

What is the difference between markup and markdown?

Back

Markup increases the price of an item, while markdown decreases it.