Check-In: Percent Increase

What is the term for the amount a merchant pays for an item?

• Retail price

• Cost

• Markup

• Discount

Priya runs a small boutique and needs to determine the amount she pays for each dress she sells. What is this amount called?

• Retail price

• Cost

• Markup

• Discount

What is the formula to calculate the markup?

• Markup = % * cost

• Markup = % * retail price

• Markup = % * discount

• Markup = % * profit

How do you calculate the retail price?

• Retail price = cost - markup

• Retail price = cost + markup

• Retail price = cost * markup

• Retail price = cost / markup

If the cost is $75 and the markup rate is 18%, what is the retail price?

• $88.50

• $75.00

• $85.00

• $90.00

What is the markup rate if the cost is $375 and the markup is 55%?

• 45%

• 55%

• 65%

• 75%

What is the term for the amount added to the cost to determine the retail price?

• Discount

• Markup

• Tax

• Profit

Scarlett owns a small boutique and wants to determine the retail price of a dress. What is the term for the amount she adds to the cost of the dress to determine its retail price?

• Discount

• Markup

• Tax

• Profit

Which of the following is NOT a component of the Markup price formula?

• Cost

• Markup

• Discount

• Retail price

What is the percentage used to calculate the markup called?

• Discount rate

• Tax rate

• Markup rate

• Interest rate