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 markup?

Back

Markup = Selling Price - Cost Price.

Front

If a bicycle shop buys a bicycle for $50 and sells it for $110, what is the markup?

Back

$60.

Front

What is selling price?

Back

Selling price is the amount for which a product is sold to customers.

Front

If a bicycle shop sells a bicycle for $110, what is the selling price?

Back

$110.

Front

What is discount?

Back

Discount is a reduction in the selling price of a product.

Front

How do you calculate discount?

Back

Discount = Original Price - Sale Price.

Front

If a bicycle shop normally sells a bicycle for $200 but sells it for $150, what is the discount?

Back

$50.

Front

What is sale price?

Back

Sale price is the price after the discount has been applied.

Front

If a bicycle shop sells a bicycle for $150 after a discount, what is the sale price?

Back

$150.