4-5 Markup and Markdown Problems

4-5 Markup and Markdown Problems

Day 1

Finding Percents:

Markup, Markdown, Tax Rate

Difference ÷ Original Price

You buy a phone case for $7.20 and then sell it to your friend for $11.25. What is the percent markup?

Multiple Choice

An item costs $4 before tax and $4.32 after sales tax. What is the sale tax rate?

• 7%

• 8%

• 9%

• 10%

Multiple Choice

The selling price of an item is $650 marked up from the wholesale cost of $450. Find the percent markup from wholesale cost to selling price.

• 36%

• 40%

• 44%

• 52%

Multiple Choice

A department store buys 300 shirts at a cost of $1,800 and sells them for $10 each. Find the percent markup rounded to the nearest percent.

• 51%

• 55%

• 62%

• 67%

Multiple Choice

A department store buys 200 shirts at a cost of $1,200 and sells them for $8 each. Find the percent markup rounded to the nearest percent.

• 28%

• 33%

• 39%

• 42%

Multiple Choice

Karen purchased the DVD player that was originally $175.90, but was on sale for $153.77. What is the percent markdown rounded to the nearest percent?

• 13%

• 14%

• 15%

• 16%

Discount, Tax or Tip

Original x Percent

Your bill at a restaurant is $35.00. If you want to tip 15%, how much tip will you give your server?

Multiple Choice

Find the tip amount on a $20 lunch if you leave a 20% tip.

• $ .40

• $ 2.00

• $ 4

• $ 24

Multiple Choice

Sales tax is __________ to the price

• subtracted

• added

• multiplied

• divided

Multiple Choice

Find the gratuity only. $ 75.45 steak dinner; 18% gratuity

• $ 13.58

• $ 89.03

• $ 61.87

• $135.80

Multiple Choice

A notebook is on sale for $1.50 with a 20% mark up. What is the amount of the mark up?

• $0.30

• $1.30

• $3

Multiple Choice

The original price of a pair of shoes is $29.99 and their is a mark down of 10% because the shop is having a black friday sale. What is the amount of money being taken off the original price?

• $0.29

• $2.99

• $1.99

Finding the Total: Sales Price

A $300 dress is marked down by 20%. Find the sale price rounded to the nearest dollar.

Original Price of the dress:

Discount or tax (multiply):

Price it sells (Add or subtract - read the word problem and figure out what it is saying):

Multiple Choice

Find the sale price. $5,000 with a 44% markdown.

• $1,300

• $1,800

• $2,800

• $2,900

Multiple Choice

A $300 dress is marked down by 20%. Find the sale price rounded to the nearest dollar.

• $200

• $230

• $240

• $280

Multiple Choice

A computer store buys a computer system at a cost of $465.60. The selling price was first at $776, but then the store advertised a 30% markdown on the system. What is the current sale prices?

• $543.20

• $589.34

• $625.15

• $647.60