Pricing and Discounts Quiz

What is the mark-up percentage if an item bought for 500 pesos is sold for 700 pesos?

• 30%

• 40%

• 50%

• 20%

A store applies a mark-on of 35% to a product. If the cost price is 800 pesos, what will the selling price be?

• 1,080 pesos

• 1,100 pesos

• 1,280 pesos

• 1,200 pesos

If an item has a marked price of 2,000 pesos and is sold at a trade discount of 15%, what is the net price?

• 1,700 pesos

• 1,800 pesos

• 1,500 pesos

• 1,600 pesos

A retailer marks down the price of a product by 25% from its original selling price of 1,200 pesos. What is the sale price after the markdown?

• 900 pesos

• 800 pesos

• 1,000 pesos

• 850 pesos

Which term refers to the percentage added to the cost price to get the selling price?

• Mark-on

• Mark-up

• Trade discount

• Mark-down

A manufacturer offers a 20% trade discount to retailers. If the list price of the product is 5,000 pesos, what is the amount of the discount?

• 1,000 pesos

• 1,200 pesos

• 800 pesos

• 1,500 pesos

An item originally priced at 3,000 pesos is marked down by 10%. What is the new price of the item?

• 2,600 pesos

• 2,700 pesos

• 2,800 pesos

• 2,500 pesos

If a product costs 450 pesos and is sold with a mark-up of 25%, what will the selling price be?

• 550 pesos

• 575 pesos

• 600 pesos

• 625 pesos

A trade discount is typically applied to which of the following?

• Cost price

• Selling price

• List price

• Net price

What is the difference between mark-up and mark-on?

• Mark-up is added to the selling price; mark-on is added to the cost price.

• Mark-up is based on cost price; mark-on is based on selling price.

• Mark-up is based on selling price; mark-on is based on cost price.

• Mark-up and mark-on are the same concepts.