📗 2-19-CW - Classwork - 21/22 OCTOBER

Front

What is markup?

Back

Markup is the amount added to the cost price of a product to determine its selling price, often expressed as a percentage of the cost.

Front

What is a discount?

Back

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

Front

How do you calculate the sale price after a discount?

Back

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

Front

What is profit?

Back

Profit is the financial gain obtained when the revenue from sales exceeds the costs associated with producing and selling a product.

Front

If a product costs $100 and is sold for $130, what is the profit?

Back

Profit = Selling Price - Cost Price = $130 - $100 = $30.

Front

What does it mean to make money?

Back

Making money refers to earning a profit from business activities or investments.

Front

If a cell phone regularly sells for $210 and is on sale for 30% off, what is the sale price?

Back

Sale Price = $210 - (30% of $210) = $210 - $63 = $147.

Front

What is the formula to find the discount amount?

Back

Discount Amount = Discount Percentage × Original Price.

Front

If a product is originally priced at $55 and is on sale for 25% off, how much is the discount?

Back

Discount = 25% of $55 = $13.75.

Front

What is the discount on a pair of boots priced at $94.99 with a 25% discount?

Back

Discount = 25% of $94.99 = $23.75.