Mark UP/DOWN

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What is a Mark Up?

Back

A mark up is the amount added to the cost price of a product to determine its selling price. It is usually expressed as a percentage of the cost price.

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What is a Mark Down?

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A mark down is a reduction in the original selling price of a product. It is often used to encourage sales and is expressed as a percentage of the original price.

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How do you calculate the amount of a Mark Down?

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To calculate the amount of a mark down, multiply the original price by the mark down percentage (in decimal form). For example, for a $29.00 item with a 15% mark down: $29.00 x 0.15 = $4.35.

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How do you calculate the selling price after a Mark Down?

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To find the selling price after a mark down, subtract the mark down amount from the original price. For example, if the original price is $29.00 and the mark down is $4.35, the selling price is $29.00 - $4.35 = $24.65.

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How do you calculate the amount of a Mark Up?

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To calculate the amount of a mark up, multiply the cost price by the mark up percentage (in decimal form). For example, for a notebook costing $1.50 with a 20% mark up: $1.50 x 0.20 = $0.30.

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How do you calculate the selling price after a Mark Up?

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To find the selling price after a mark up, add the mark up amount to the cost price. For example, if the cost price is $1.50 and the mark up is $0.30, the selling price is $1.50 + $0.30 = $1.80.

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What is the formula for calculating the selling price with a Mark Up?

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Selling Price = Cost Price + (Cost Price x Mark Up Percentage) or Selling Price = Cost Price x (1 + Mark Up Percentage).

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What is the formula for calculating the selling price with a Mark Down?

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Selling Price = Original Price - (Original Price x Mark Down Percentage) or Selling Price = Original Price x (1 - Mark Down Percentage).

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If a bicycle costs $75 and has a 55% mark up, what is the selling price?

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Selling Price = $75 + ($75 x 0.55) = $75 + $41.25 = $116.25.

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What is the difference between Mark Up and Mark Down?

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Mark Up increases the price of a product above its cost, while Mark Down decreases the price of a product below its original selling price.