Markups & Discounts
Flashcard
•
Mathematics
•
7th Grade
•
Hard
Standards-aligned
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15 questions
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1.
FLASHCARD QUESTION
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.
Tags
CCSS.6.RP.A.3C
2.
FLASHCARD QUESTION
Front
How do you calculate the selling price using markup?
Back
Selling Price = Cost Price + (Markup Percentage × Cost Price)
Tags
CCSS.6.RP.A.3C
3.
FLASHCARD QUESTION
Front
What is a discount?
Back
A discount is a reduction in the original price of a product, usually expressed as a percentage.
Tags
CCSS.6.RP.A.3C
4.
FLASHCARD QUESTION
Front
How do you calculate the sale price after a discount?
Back
Sale Price = Original Price - (Discount Percentage × Original Price)
Tags
CCSS.6.RP.A.3C
5.
FLASHCARD QUESTION
Front
If a TV is sold for $225 after a 75% discount, what was the original price?
Back
Original Price = Selling Price / (1 - Discount Percentage) = $225 / (1 - 0.75) = $900.
Tags
CCSS.6.RP.A.3C
6.
FLASHCARD QUESTION
Front
If a product costs $50 and has a markup of 10%, what is the selling price?
Back
Selling Price = Cost Price + (Markup Percentage × Cost Price) = $50 + (0.10 × $50) = $55.
Tags
CCSS.6.RP.A.3C
7.
FLASHCARD QUESTION
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)
Tags
CCSS.6.RP.A.3C
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