Discounts and Markups

Front

What is a discount?

Back

A discount is a reduction in the original price of a product or service, usually expressed as a percentage.

Front

How do you calculate the final price after applying a discount?

Back

To calculate the final price after a discount, subtract the discount amount from the original price. The discount amount can be calculated by multiplying the original price by the discount percentage.

Front

What is a markup?

Back

A markup is an increase in the original price of a product or service, usually expressed as a percentage of the cost price.

Front

How do you calculate the selling price after applying a markup?

Back

To calculate the selling price after a markup, add the markup amount to the original price. The markup amount can be calculated by multiplying the original price by the markup percentage.

Front

If an item costs $50 and has a 10% discount, what is the final price?

Back

The final price is $45. (Discount amount = $50 * 0.10 = $5; Final price = $50 - $5 = $45.)

Front

If a sweater originally costs $35 and is marked up by 20%, what is the selling price?

Back

The selling price is $42. (Markup amount = $35 * 0.20 = $7; Selling price = $35 + $7 = $42.)

Front

What is the formula for calculating the discount amount?

Back

The formula for calculating the discount amount is: Discount Amount = Original Price x (Discount Percentage / 100).

Front

What is the formula for calculating the markup amount?

Back

The formula for calculating the markup amount is: Markup Amount = Cost Price x (Markup Percentage / 100).

Front

How do you express a discount as a percentage?

Back

To express a discount as a percentage, divide the discount amount by the original price and multiply by 100.

Front

How do you express a markup as a percentage?

Back

To express a markup as a percentage, divide the markup amount by the cost price and multiply by 100.