Percent - Markup and Markdown
Flashcard
•
Mathematics
•
7th Grade
•
Hard
Standards-aligned
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15 questions
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1.
FLASHCARD QUESTION
Front
What is a percent?
Back
A percent is a ratio expressed as a fraction of 100. It represents a part of a whole.
2.
FLASHCARD QUESTION
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). For example, to find 15% of 200, calculate 200 * 0.15 = 30.
Tags
CCSS.6.RP.A.3C
3.
FLASHCARD QUESTION
Front
What is markup?
Back
Markup is the amount added to the cost price of goods to cover overhead and profit. It is often expressed as a percentage of the cost.
Tags
CCSS.6.RP.A.3C
4.
FLASHCARD QUESTION
Front
What is markdown?
Back
Markdown is a reduction in the original selling price of a product. It is often expressed as a percentage of the original price.
Tags
CCSS.6.RP.A.3C
5.
FLASHCARD QUESTION
Front
How do you calculate the new price after a markup?
Back
To calculate the new price after a markup, multiply the original price by (1 + markup percentage in decimal form). For example, if the original price is $100 and the markup is 20%, the new price is $100 * (1 + 0.20) = $120.
Tags
CCSS.6.RP.A.3B
6.
FLASHCARD QUESTION
Front
How do you calculate the new price after a markdown?
Back
To calculate the new price after a markdown, multiply the original price by (1 - markdown percentage in decimal form). For example, if the original price is $100 and the markdown is 15%, the new price is $100 * (1 - 0.15) = $85.
Tags
CCSS.6.RP.A.3C
7.
FLASHCARD QUESTION
Front
If an item costs $50 and is marked up by 30%, what is the selling price?
Back
The selling price is $50 * (1 + 0.30) = $65.
Tags
CCSS.6.RP.A.3C
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