Discounts and Markups

Front

What is a discount?

Back

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

Front

How do you calculate the discount amount?

Back

To calculate the discount amount, multiply the original price by the discount percentage (in decimal form). Formula: Discount Amount = Original Price × Discount Percentage.

Front

What is the formula to find the sale price after a discount?

Back

Sale Price = Original Price - Discount Amount.

Front

If a toy originally costs $45 and is now $36, what is the discount percentage?

Back

The discount percentage is 20%.

Front

How do you find the original price if you know the sale price and discount percentage?

Back

Original Price = Sale Price ÷ (1 - Discount Percentage).

Front

If a dress is on sale for $35 with a 30% discount, what was its original price?

Back

The original price was $50.

Front

What is a markup?

Back

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

Front

How do you calculate the markup amount?

Back

To calculate the markup amount, multiply the cost price by the markup percentage (in decimal form). Formula: Markup Amount = Cost Price × Markup Percentage.

Front

What is the formula to find the selling price after a markup?

Back

Selling Price = Cost Price + Markup Amount.

Front

If a retailer buys a smartphone for $300 and marks it up by 20%, what is the selling price?

Back

The selling price is $360.