Mark UP/DOWN

Front

What is a markup?

Back

A markup is the amount added to the cost price of a product to determine its selling price. It is usually expressed as a percentage of the cost price.

Front

What is a markdown?

Back

A markdown is a reduction in the original selling price of a product. It is often used to encourage sales and is expressed as a percentage of the original price.

Front

How do you calculate the sale price after a markdown?

Back

Sale Price = Original Price - (Original Price × Markdown Percentage)

Front

If a product costs $50 and has a 20% markup, what is the selling price?

Back

Selling Price = Cost Price + (Cost Price × Markup Percentage) = $50 + ($50 × 0.20) = $60.

Front

What is the formula to calculate the amount of a markdown?

Back

Markdown Amount = Original Price × Markdown Percentage.

Front

If a pair of shoes originally costs $40 and is marked down by 25%, what is the discount amount?

Back

Discount Amount = $40 × 0.25 = $10.

Front

What is the retail price if the wholesale cost of an item is $100 and the markup is 30%?

Back

Retail Price = Wholesale Cost + (Wholesale Cost × Markup Percentage) = $100 + ($100 × 0.30) = $130.

Front

How do you find the percentage of a markup?

Back

Markup Percentage = (Markup Amount / Cost Price) × 100.

Front

If a notebook is sold for $2.00 after a 20% markup, what was its original cost?

Back

Original Cost = Selling Price / (1 + Markup Percentage) = $2.00 / (1 + 0.20) = $1.67.

Front

What is the difference between markup and markdown?

Back

Markup increases the price of a product, while markdown decreases the price.