Percent Change/Error & Markups/Discounts

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What is Percent Change?

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Percent Change is a measure of how much a quantity has increased or decreased relative to its original value, expressed as a percentage.

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How do you calculate Percent Change?

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Percent Change = ((New Value - Original Value) / Original Value) x 100.

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What is Percent Error?

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Percent Error is a measure of how inaccurate a measurement is, expressed as a percentage of the difference between the estimated value and the actual value.

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How do you calculate Percent Error?

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Percent Error = (|Estimated Value - Actual Value| / Actual Value) x 100.

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What is a Markup?

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Markup is the amount added to the cost price of goods to cover overhead and profit.

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How do you calculate Markup Amount?

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Markup Amount = Cost Price x Markup Percentage.

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What is a Discount?

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A discount is a reduction in the price of a product or service.

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How do you calculate Discount Amount?

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Discount Amount = Original Price x Discount Percentage.

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What is Percent Discount?

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Percent Discount is the percentage reduction from the original price of an item.

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How do you calculate Percent Discount?

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Percent Discount = (Discount Amount / Original Price) x 100.