Markup and Markdown

Front

What is markup?

Back

Markup is the amount added to the cost price of a product to determine its selling price, usually expressed as a percentage of the cost price.

Front

How do you calculate the selling price with markup?

Back

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

Front

What is markdown?

Back

Markdown is a reduction in the original selling price of a product, usually expressed as a percentage.

Front

How do you calculate the sale price with markdown?

Back

Sale Price = Original Price - (Original Price * Markdown Percentage)

Front

If a product costs $50 and has a 20% markup, what is the selling price?

Back

Selling Price = $50 + ($50 * 0.20) = $60

Front

If a shirt originally costs $30 and is on sale for 25% off, what is the sale price?

Back

Sale Price = $30 - ($30 * 0.25) = $22.50

Front

What does a 40% discount mean?

Back

A 40% discount means that the price is reduced by 40% of the original price.

Front

If a jacket costs $85 and is 40% off, how much do you pay?

Back

Amount Paid = $85 - ($85 * 0.40) = $51

Front

What is the formula for calculating the amount of discount?

Back

Discount Amount = Original Price * Discount Percentage

Front

If a pair of boots costs $94.99 and is 25% off, what is the sale price?

Back

Sale Price = $94.99 - ($94.99 * 0.25) = $71.24