Pricing Strategies and Discounts

This video tutorial by Miss Go covers module 4, lesson 4 on markup and markdown problems. It explains key terms such as original price, selling price, markup, markdown, markup rate, and markdown rate. The video provides examples of solving markup and markdown problems using equations, focusing on real-world applications. It includes three examples: calculating markup for a video game, markdown for a mountain bike with multiple discounts, and working backwards to find the final price and discount rate for a car. The tutorial emphasizes understanding percent and proportional relationships in solving these problems.

What is the term used to describe the original cost of an item before any markup or markdown?

• Selling price

• Original price

• Markup rate

• Markdown rate

Which equation is used to calculate the selling price when an item is marked up?

• Selling price = 1 - m * whole

• Selling price = whole - m

• Selling price = 1 + m * whole

• Selling price = m * whole

In Example One, what is the final selling price of the video game after a 40% markup on a $30 wholesale price?

• $42

• $30

• $12

• $40

How much was the video game marked up in Example One?

• $12

• $18

• $15

• $10

In Example Two, what is the sale price of the mountain bike after a 30% discount on a $300 price?

• $210

• $189

• $300

• $270

What is the total discount in dollars for the mountain bike in Example Two if the final price is $189?

• $90

• $111

• $100

• $120

What is the total percentage discount for the mountain bike in Example Two?

• 37%

• 40%

• 50%

• 30%

In Example Three, what is the final price of the car after applying a 7.5% sales tax to a $16,000 sale price?

• $15,000

• $17,200

• $16,000

• $18,000

What is the discount rate for the car in Example Three if the original price was $20,000 and the sale price is $16,000?

• 30%

• 20%

• 15%

• 25%

Does it make a difference if the sales tax is applied before or after the discount in Example Three?

• No, it only affects the discount rate

• Yes, it decreases the final price

• No, it doesn't make a difference

• Yes, it increases the final price