Mark Up and 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.

Front

How do you calculate the selling price after a markup?

Back

Selling Price = Original Price + (Markup 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

What is a discount?

Back

A discount is a reduction in the original price of a product.

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 $200 and has a discount of 15%, what is the selling price?

Back

Selling Price = $200 - (15% × $200) = $170.

Front

What is the difference between markup and discount?

Back

Markup increases the price of a product, while a discount decreases the price.

Front

If a phone is marked up by 20% from an original price of $500, what is the selling price?

Back

Selling Price = $500 + (20% × $500) = $600.

Front

If a bag is marked up by 10% from an original price of $80, what is the selling price?

Back

Selling Price = $80 + (10% × $80) = $88.

Front

If a shirt is marked up by 25% from an original price of $40, what is the selling price?

Back

Selling Price = $40 + (25% × $40) = $50.