Markup and Discount

Front

What is a discount?

Back

A discount is a reduction in the original price of a product or service.

Front

How do you calculate a discount?

Back

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

Front

What is the formula to find the selling price after a discount?

Back

Selling Price = Original Price - Discount Amount.

Front

If an item costs $100 and has a 25% discount, what is the discount amount?

Back

The discount amount is $25.

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 markup?

Back

To calculate markup, multiply the cost price by the markup percentage (as a decimal) and add that amount to the cost price.

Front

If a product costs $50 and has a markup of 20%, what is the selling price?

Back

The selling price is $60.

Front

What does 100% of a number represent?

Back

100% of a number represents the whole number itself.

Front

If an item is originally priced at $80 and is marked up by 10%, what is the new price?

Back

The new price is $88.

Front

What is the difference between markup and discount?

Back

Markup increases the price of an item, while a discount decreases the price.