Discounts and Markups

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What is a discount?

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

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How do you calculate the amount of a discount?

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To calculate the discount amount, multiply the original price by the discount rate (as a decimal). Formula: Discount Amount = Original Price × Discount Rate.

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What is the sale price?

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The sale price is the final price of a product after the discount has been applied. Formula: Sale Price = Original Price - Discount Amount.

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What is a markup?

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

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How do you calculate the amount of a markup?

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To calculate the markup amount, multiply the original price by the markup rate (as a decimal). Formula: Markup Amount = Original Price × Markup Rate.

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What is the selling price?

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The selling price is the final price of a product after the markup has been added. Formula: Selling Price = Original Price + Markup Amount.

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If a laptop costs $1200 and has a discount rate of 20%, what is the discount amount?

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The discount amount is $240.

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If a coffee maker costs $70 and has a discount rate of 15%, what is the discount amount?

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The discount amount is $10.50.

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If a backpack costs $50 and has a markup rate of 40%, what is the markup amount?

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The markup amount is $20.

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If a desk lamp costs $30 and has a markup rate of 25%, what is the markup amount?

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The markup amount is $7.50.