What is the formula to calculate the markup rate?

MAT 101 Final Exam Review

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•
Mathematics
•
University
•
Hard
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15 questions
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1.
FLASHCARD QUESTION
Front
Back
Markup Rate = (Selling Price - Cost Price) / Cost Price * 100
2.
FLASHCARD QUESTION
Front
If an item costs $275 and is sold for $453.75, what is the markup rate?
Back
65%
3.
FLASHCARD QUESTION
Front
What is the sum of 1,121, 216, and 475?
Back
1,812
4.
FLASHCARD QUESTION
Front
How do you compare two numbers, for example, 631,328 and 640,009?
Back
631,328 < 640,009
5.
FLASHCARD QUESTION
Front
What is the formula for calculating simple interest?
Back
Simple Interest = Principal x Rate x Time
6.
FLASHCARD QUESTION
Front
If $1,500 is invested at a simple interest rate of 8.25% for 18 years, what will be the total amount?
Back
$3,727.50
7.
FLASHCARD QUESTION
Front
What is the new price of an item after applying a 30% discount on a $34.00 item?
Back
$23.80
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