Discount, Markup, Selling Price

Front

What is a discount?

Back

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

Front

What does 'markup' mean?

Back

Markup is the amount added to the cost price of goods to cover overhead and profit.

Front

How do you calculate the selling price after a markup?

Back

Selling Price = Cost Price + (Markup Percentage × Cost Price)

Front

What is the formula to calculate a discount?

Back

Discount = Original Price × Discount Percentage

Front

If an item costs $50 and has a 20% discount, what is the sale price?

Back

Sale Price = Original Price - Discount = $50 - ($50 × 0.20) = $40.

Front

What is a markdown?

Back

A markdown is a permanent reduction in the original selling price of a product.

Front

If a bracelet costs $44 and is marked up by 65%, what is the selling price?

Back

Selling Price = $44 + (0.65 × $44) = $72.60.

Front

What does it mean to subtract a discount from a price?

Back

Subtracting a discount means reducing the original price by the amount of the discount.

Front

If a video game is $59.99 and is on sale for 20% off, how much is the discount?

Back

Discount = $59.99 × 0.20 = $12.00.

Front

What is the sale price of boots originally priced at $94.99 with a 25% discount?

Back

Sale Price = $94.99 - ($94.99 × 0.25) = $71.24.