6-5 Discount and Markup (Absent/Late)

Front

____________ is the amount by which the regular price is reduced.

Back

Discount

Front

What is the formula to calculate the percent of change?

Back

Percent of Change = (New Price - Old Price) / Old Price × 100

Front

If a product costs $100 and is marked up by 20%, what is the new price?

Back

New Price = $100 + ($100 × 0.20) = $120

Front

A cell phone regularly sells for $210 and is on sale for 30% off. What is the sale price?

Back

Sale Price = Regular Price - (Regular Price × Discount Rate) = $210 - ($210 × 0.30) = $147

Front

Jack found a book for $280 with a 15% discount. How much will he save?

Back

Savings = Original Price × Discount Rate = $280 × 0.15 = $42.00

Front

A TV that normally costs $800 is on sale for 33% off. What is the sale price?

Back

Sale Price = $800 - ($800 × 0.33) = $536.00

Front

What is sales tax?

Back

Sales tax is a percentage of the sale price added to the total cost of a purchase.

Front

If a product costs $50 and has a sales tax of 6%, what is the total cost?

Back

Total Cost = Price + (Price × Sales Tax Rate) = $50 + ($50 × 0.06) = $53.00

Front

What is markup?

Back

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

Front

If an item costs $200 and is marked up by 25%, what is the selling price?

Back

Selling Price = Cost Price + (Cost Price × Markup Rate) = $200 + ($200 × 0.25) = $250