Markup and Markdown Concepts

The video tutorial covers lesson 5.2 on rewriting percent expressions, focusing on markup and markdown problems. It explains how to use bar models to represent retail and wholesale prices, calculate markups and markdowns, and understand the differences between them. Practical examples are provided to illustrate the concepts, and the video concludes with a comparison of markup and markdown coefficients.

What is the primary purpose of using a bar model in percent expressions?

• To determine the profit margin of a store

• To find the total number of items sold

• To calculate the exact cost of an item

• To visually represent the relationship between retail and wholesale prices

If a skateboard costs $35 and has a 42% markup, what is the retail price?

• $49.70

• $45.00

• $50.00

• $48.30

How does a 34% markup change the expression for retail price?

• It becomes 1.34 times the cost

• It becomes 1.42 times the cost

• It becomes 1.24 times the cost

• It becomes 1.14 times the cost

What is the markup percentage if a boutique triples the price of its items?

• 150%

• 300%

• 200%

• 100%

What does a markdown represent in terms of percent expressions?

• A percent increase

• A percent decrease

• A fixed price reduction

• A tax deduction

If an item is marked down by 20%, what percentage of the original price do you pay?

• 60%

• 100%

• 80%

• 20%

What is the coefficient for a markdown expression if the markdown is 24%?

• 1.24

• 0.24

• 0.76

• 0.84

How do the coefficients of markup and markdown expressions differ?

• Markup is greater than 1, markdown is less than 1

• Both are less than 1

• Both are greater than 1

• Markup is less than 1, markdown is greater than 1

If a pillow is marked down by 5%, what is the sale price if the original price is $15?

• $14.25

• $13.75

• $15.00

• $14.50

What is the expression for the sale price of an item marked down by 5%?

• 1.00 times the original price

• 0.05 times the original price

• 1.05 times the original price

• 0.95 times the original price