Lesson 6.6-Discounts and Markups

Front

What is a markup?

Back

A markup is the amount added to the cost price of a product to determine its selling price.

Front

How do you calculate the selling price with a markup?

Back

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

Front

What is a discount?

Back

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

Front

How do you calculate the sale price after a discount?

Back

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

Front

If a product costs $24 and is marked up by 50%, what is the selling price?

Back

Selling Price = $24 + (0.50 × $24) = $36.

Front

If a product is originally priced at $80 and is discounted by 20%, what is the sale price?

Back

Sale Price = $80 - (0.20 × $80) = $64.

Front

What is the original price if a product is sold for $45 after a 10% discount?

Back

Original Price = Sale Price / (1 - Discount Percentage) = $45 / 0.90 = $50.

Front

If a pair of shoes is marked up 30% and sells for $65, what was the original price?

Back

Original Price = Selling Price / (1 + Markup Percentage) = $65 / 1.30 = $50.

Front

What is the formula to find the original price after a discount?

Back

Original Price = Sale Price / (1 - Discount Percentage)