6.6 Discounts and Markups V1

Front

What is a discount?

Back

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

Front

How do you calculate the selling price after a discount?

Back

Selling Price = Original Price - (Discount Percentage × Original Price)

Front

If a dress is bought for 50% off and costs $61.50, how do you find the original price?

Back

Original Price = Selling Price / (1 - Discount Percentage) = $61.50 / (1 - 0.50) = $123.00

Front

What is a markup?

Back

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

Front

How do you calculate the selling price after a markup?

Back

Selling Price = Cost Price + (Markup Percentage × Cost Price) or Selling Price = Cost Price × (1 + Markup Percentage)

Front

If a store paid $32 for earrings and marked them up by 150%, what is the selling price?

Back

Selling Price = Cost Price × (1 + Markup Percentage) = $32 × (1 + 1.50) = $80.00

Front

What is the formula to find the discount amount?

Back

Discount Amount = Original Price × Discount Percentage

Front

If a watch costs $99 and has a 40% discount, how do you find the sale price?

Back

Sale Price = Original Price - (Discount Amount) = $99 - ($99 × 0.40) = $59.40

Front

How do you calculate the retail price after a 100% markup?

Back

Retail Price = Cost Price × (1 + Markup Percentage) = $600 × (1 + 1.00) = $1200.00

Front

If you have a coupon for 20% off a $42 cell phone case, how do you calculate the final price?

Back

Final Price = Original Price - (Discount Amount) = $42 - ($42 × 0.20) = $33.60