Check-In: Percent Increase

Front

What is the term for the amount a merchant pays for an item?

Back

Cost

Front

What is the amount called that Priya pays for each dress she sells?

Back

Cost

Front

If the cost is $75 and the markup rate is 18%, what is the retail price?

Back

$88.50

Front

Which of the following is NOT a component of the Markup price formula?

Back

Discount

Front

What is the term for the amount added to the cost to determine the retail price?

Back

Markup

Front

Define 'Retail Price'.

Back

The price at which a product is sold to consumers, calculated by adding markup to the cost.

Front

What is 'Markup'?

Back

The amount added to the cost of a product to determine its selling price.

Front

How do you calculate the retail price using cost and markup?

Back

Retail Price = Cost + (Cost * Markup Rate)

Front

What is the formula for calculating Markup Rate?

Back

Markup Rate = (Markup / Cost) * 100

Front

If an item costs $50 and is sold for $65, what is the markup amount?

Back

$15