What is a discount?
Ch. 6.6 - Homework 2 - Discounts and Markups

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•
Mathematics
•
7th Grade
•
Hard
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1.
FLASHCARD QUESTION
Front
Back
A discount is a reduction in the original price of a product or service, usually expressed as a percentage.
2.
FLASHCARD QUESTION
Front
How do you calculate the sale price after a discount?
Back
To calculate the sale 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.
3.
FLASHCARD QUESTION
Front
What is a markup?
Back
A markup is an increase in the original cost of a product or service, usually expressed as a percentage of the cost.
4.
FLASHCARD QUESTION
Front
How do you calculate the selling price after a markup?
Back
To calculate the selling price after a markup, add the markup amount to the original cost. The markup amount can be calculated by multiplying the original cost by the markup percentage.
5.
FLASHCARD QUESTION
Front
If an item costs $50 and has a 20% discount, what is the sale price?
Back
The sale price is $40. (Discount = $50 * 0.20 = $10; Sale Price = $50 - $10 = $40.)
6.
FLASHCARD QUESTION
Front
If a store marks up a $100 item by 25%, what is the selling price?
Back
The selling price is $125. (Markup = $100 * 0.25 = $25; Selling Price = $100 + $25 = $125.)
7.
FLASHCARD QUESTION
Front
What is the formula for calculating the discount amount?
Back
Discount Amount = Original Price x Discount Percentage.
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