Discounts and Markups

Front

What is a markup?

Back

A markup is the amount added to the cost price of a product to determine its selling price.

Front

How do you calculate the selling price with a markup?

Back

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

Front

What does it mean to apply a discount?

Back

Applying a discount means reducing the original price of a product.

Front

How do you calculate the final price after a discount?

Back

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

Front

If a product costs $10 and has a 20% markup, what is the selling price?

Back

Selling Price = $10 + ($10 × 0.20) = $12.

Front

If a shirt costs $30 and is on sale for 25% off, what is the sale price?

Back

Sale Price = $30 - ($30 × 0.25) = $22.50.

Front

What is the difference between markup and discount?

Back

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

Front

If a store buys a toy for $15 and marks it up by 40%, what is the selling price?

Back

Selling Price = $15 + ($15 × 0.40) = $21.

Front

What is a 30% discount on a $50 item?

Back

Discount = $50 × 0.30 = $15; Sale Price = $50 - $15 = $35.

Front

If a book costs $20 and has a 10% markup, what is the selling price?

Back

Selling Price = $20 + ($20 × 0.10) = $22.