Percent markups/discounts

Front

What is a percent markup?

Back

A percent markup is the amount added to the cost price of an item to determine its selling price, expressed as a percentage of the cost price.

Front

How do you calculate the sale price after a percent markup?

Back

Sale Price = Cost Price + (Cost Price × Percent Markup)

Front

What is a percent discount?

Back

A percent discount is a reduction from the original price of an item, expressed as a percentage of the original price.

Front

How do you calculate the sale price after a percent discount?

Back

Sale Price = Original Price - (Original Price × Percent Discount)

Front

What is sales tax?

Back

Sales tax is a percentage added to the price of goods and services, collected by the seller and paid to the government.

Front

How do you calculate the total cost including sales tax?

Back

Total Cost = Price + (Price × Sales Tax Rate)

Front

If a bicycle costs $75 and has a 55% markup, what is the sale price?

Back

Sale Price = $75 + ($75 × 0.55) = $116.25

Front

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

Back

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

Front

If an item costs $17.95 and the sales tax is 6%, what is the total cost?

Back

Total Cost = $17.95 + ($17.95 × 0.06) = $19.03

Front

If a battery costs $72 and has a sales tax of 7.5%, what is the total cost?

Back

Total Cost = $72 + ($72 × 0.075) = $77.40