Percent - 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.

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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.

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.

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.

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.

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.

Front

If an item costs $50 and is marked up by 30%, what is the selling price?

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The selling price is $50 * (1 + 0.30) = $65.

Front

If an item originally costs $80 and is marked down by 25%, what is the sale price?

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The sale price is $80 * (1 - 0.25) = $60.

Front

What is commission?

Back

Commission is a fee paid to an employee based on the sales they generate, often expressed as a percentage of the sales amount.

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How do you calculate commission earned?

Back

To calculate commission earned, multiply the total sales by the commission rate (in decimal form). For example, if sales are $1,000 and the commission rate is 5%, the commission earned is $1,000 * 0.05 = $50.