Markups and Markdowns Practice

Front

What is a markup?

Back

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

Front

How do you calculate the selling price with a markup?

Back

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

Front

If a product costs $80 and has a 450% markup, what is the selling price?

Back

Selling Price = $80 + (450% × $80) = $440.

Front

What is a markdown?

Back

A markdown is a reduction in the original selling price of a product, usually expressed as a percentage.

Front

How do you calculate the sale price after a markdown?

Back

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