Discount and Markup

Front

What is a discount?

Back

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

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What is a markup?

Back

A markup is an increase in the original price of an item, usually expressed as a percentage of the cost.

Front

What is the selling price?

Back

The selling price is the final price paid by the customer after any markup or discount has been applied.

Front

What is a markdown?

Back

A markdown is a decrease in the price of an item, making it cheaper than the original price.

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How do you calculate the discount amount?

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To calculate the discount amount, multiply the original price by the discount percentage (as a decimal).

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How do you calculate the sale price?

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To calculate the sale price, subtract the discount amount from the original price.

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What is profit?

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Profit is the amount of money earned after all costs and expenses have been subtracted from revenue.

Front

If an item costs $200 and has a 20% markup, what is the selling price?

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The selling price is $240.

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If a shirt originally costs $50 and is on sale for 30% off, what is the sale price?

Back

The sale price is $35.

Front

What is the formula for calculating markup?

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Markup = (Selling Price - Cost Price) / Cost Price x 100%.