Lesson 7 Markup and Discount

Front

What is markup?

Back

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 markup?

Back

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

Front

If an item costs $23 and has a markup of 25%, what is the selling price?

Back

$28.75

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 - (Original Price × Discount Percentage)

Front

If a tent costs $229 and is on sale for 40% off, what is the sale price?

Back

$137.40

Front

What does the 'p' in the interest formula stand for?

Back

Principal

Front

How do you convert a percentage to a decimal?

Back

Divide the percentage by 100.

Front

What is 4.3% as a decimal?

Back

.043

Front

If a pizza costs $28 and has a coupon for 30% off, what is the sale price?

Back

$19.60