Markup

Front

What is markup?

Back

Markup is the amount added to the cost price of goods to cover overhead and profit. It is usually expressed as a percentage of the cost price.

Front

How do you calculate the selling price using markup?

Back

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

Front

If an item costs $10 and has a markup of 50%, what is the selling price?

Back

Selling Price = $10 + (0.50 × $10) = $15

Front

What is the formula to find the markup amount?

Back

Markup Amount = Markup Percentage × Cost Price

Front

If a store buys a product for $5 and marks it up by 20%, what is the selling price?

Back

Selling Price = $5 + (0.20 × $5) = $6

Front

What does a 100% markup mean?

Back

A 100% markup means the selling price is double the cost price.

Front

If a product costs $15 and is sold for $18, what is the markup percentage?

Back

Markup Percentage = ((Selling Price - Cost Price) / Cost Price) × 100 = ((18 - 15) / 15) × 100 = 20%.

Front

What is the selling price of an item that costs $8 with a 25% markup?

Back

Selling Price = $8 + (0.25 × $8) = $10.

Front

If a store has a 30% markup on a $50 item, what is the selling price?

Back

Selling Price = $50 + (0.30 × $50) = $65.

Front

What is the difference between cost price and selling price?

Back

Cost Price is the price paid to purchase an item, while Selling Price is the price at which the item is sold to customers.