Solving Markup and Markdown Percent Problems

What is a markup in financial terms?

• The original cost of an item

• An increase in price from the original cost

• The total cost including tax

• A decrease in price from the original cost

If a store buys an item for $10 and sells it for $15, what is the markup amount?

• $15

• $10

• $5

• $3

What does a markdown represent?

• The total cost including tax

• The original cost of an item

• A decrease in price from the original cost

• An increase in price from the original cost

How do you calculate the percent markup if an item originally costs $10 and is sold for $15?

• 50%

• 200%

• 100%

• 150%

What is the sale price of $230 sneakers with a 30% markdown?

• $69

• $161

• $200

• $230

Josiah buys concert tickets for $80 for two tickets. Each ticket has a face value of $55. What is the markdown per ticket?

• $25

• $20

• $15

• $30

If Josiah's friend gave him a markdown of $15 per ticket, what is the percent markdown?

• 20%

• 27%

• 30%

• 25%

Why is understanding percent markups and markdowns important in finance?

• To calculate taxes

• To set sale prices

• To determine original costs

• To maximize profits

If an item originally costs $550 and has a markdown of $165, what is the sale price?

• $500

• $385

• $400

• $450

A store bought an item for $350 and sold it for $385. What is the markup amount?

• $25

• $30

• $40

• $35