Markups & Discounts

Front

What is a markup?

Back

A markup is the amount added to the cost price of a product to determine its selling price. It is usually expressed as a percentage of the cost price.

Front

How do you calculate the selling price with markup?

Back

Selling 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 selling price after a discount?

Back

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

Front

If a product costs $100 and has a markup of 20%, what is the selling price?

Back

Selling Price = $100 + (20% × $100) = $120.

Front

If a lamp originally costs $55 and is discounted by 15%, what is the discount amount?

Back

Discount Amount = 15% × $55 = $8.25.

Front

What is the original price if a TV is sold for $225 after a 75% discount?

Back

Original Price = Selling Price / (1 - Discount Percentage) = $225 / (1 - 0.75) = $900.

Front

What is the formula to find the cost price if you know the selling price and markup?

Back

Cost Price = Selling Price / (1 + Markup Percentage)