Business Math: Markups and Markdowns
Authored by Caryle Cleofas
Mathematics
12th Grade
CCSS covered
Used 3+ times
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15 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
What is the formula for calculating markups?
Markup = (Selling Price - Cost Price) / Cost Price
Markup = (Selling Price - Cost Price) * Cost Price
Markup = (Selling Price * Cost Price) / Cost Price
Markup = (Selling Price + Cost Price) / Cost Price
Tags
CCSS.7.RP.A.3
CCSS.7.EE.B.3
CCSS.7.RP.A.2
2.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
When do we apply markups and markdowns in business math?
We apply markups and markdowns to decrease the cost price.
We apply markups and markdowns to increase the cost price.
We apply markups to decrease the selling price and markdowns to increase the selling price.
We apply markups to increase the selling price and markdowns to decrease the selling price.
Tags
CCSS.7.RP.A.3
CCSS.7.EE.B.3
3.
MULTIPLE CHOICE QUESTION
3 mins • 5 pts
Solve the following markup problem: The cost price of a product is $50 and the markup percentage is 25%. What is the selling price?
$62.50
$37.50
$75.00
$100.00
Tags
CCSS.7.RP.A.3
CCSS.7.RP.A.2
4.
MULTIPLE CHOICE QUESTION
5 mins • 5 pts
Solve the following markdown problem: The selling price of a product is $80 and the markdown percentage is 20%. What is the cost price?
$60
$70
$90
$100
Tags
CCSS.7.RP.A.3
CCSS.7.EE.B.3
CCSS.7.EE.B.4
5.
MULTIPLE CHOICE QUESTION
5 mins • 5 pts
Find the selling price of a product if the cost price is $100 and the markup percentage is 50%.
$150
$75
$50
$200
Tags
CCSS.7.RP.A.3
CCSS.7.EE.B.3
CCSS.7.RP.A.2
6.
MULTIPLE CHOICE QUESTION
5 mins • 5 pts
Calculate the cost price of a product if the selling price is $120 and the markup percentage is 25%.
110
130
100
96
Tags
CCSS.7.RP.A.3
CCSS.7.EE.B.3
CCSS.7.RP.A.2
7.
MULTIPLE CHOICE QUESTION
1 min • 5 pts
What is the difference between markups and markdowns?
Markups and markdowns are the same thing.
Markups refer to the increase in price, while markdowns refer to the decrease in price.
Markups refer to the decrease in price, while markdowns refer to the increase in price.
Markups refer to the decrease in quantity, while markdowns refer to the increase in quantity.
Tags
CCSS.7.RP.A.3
CCSS.7.RP.A.2
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