Markdowns and Markups in Pricing

The video tutorial covers the concept of percent expressions, focusing on markup and markdown. It explains how to rewrite percent expressions and provides real-world examples of markup and markdown, such as retail pricing and discounts. The tutorial includes detailed examples of calculating retail and sales prices using markup and markdown percentages.

What are the two types of percent expressions discussed in the video?

• Increase and Decrease

• Profit and Loss

• Addition and Subtraction

• Markup and Markdown

What is a markup in the context of percent expressions?

• A seasonal price

• A fixed price

• An increase in price

• A decrease in price

Which of the following is an example of a markup?

• A sweater sold for less in summer

• A jacket sold for more in winter

• A discount on holiday items

• A clearance sale

What is a markdown in the context of percent expressions?

• An increase in price

• A decrease in price

• A seasonal price

• A fixed price

Which of the following is an example of a markdown?

• A sweater sold for less in summer

• A price increase due to demand

• A price increase due to supply

• A jacket sold for more in winter

In the example, what is the markup percentage applied to the skateboards?

• 25%

• 56%

• 42%

• 35%

How do you calculate the retail price with a markup?

• Divide the original price by the markup

• Subtract the markup from the original price

• Add the markup to the original price

• Multiply the original price by the markup

In the example, what is the markdown percentage applied to the holiday merchandise?

• 30%

• 15%

• 25%

• 20%

How do you calculate the sales price with a markdown?

• Subtract the markdown from the original price

• Add the markdown to the original price

• Multiply the original price by the markdown

• Divide the original price by the markdown

What is the sales price of a decoration originally priced at $16 after a 20% markdown?

• $15.20

• $13.60

• $14.00

• $12.80