Cost, Markup, and Selling Price

In this video, Al Kumar explains the relationship between cost, markup, and selling price through three examples. The first example demonstrates how to find the markup and markup rate when given the cost and selling price. The second example shows how to calculate the selling price when the cost price and markup rate are known. The third example illustrates how to determine the cost price from the selling price and markup rate. The video concludes with a summary and encouragement to practice more examples.

What is the relationship between cost, markup, and selling price?

• Selling price equals markup minus cost

• Cost equals markup plus selling price

• Selling price equals cost plus markup

• Markup equals cost minus selling price

If an item costs $46 and is sold for $69, what is the markup?

• $115

• $69

• $46

• $23

How do you calculate the markup rate based on cost price?

• Selling price divided by cost price times 100

• Markup divided by cost price times 100

• Cost price divided by markup times 100

• Markup divided by selling price times 100

What is the markup rate if the markup is $23 and the cost price is $46?

• 40%

• 50%

• 56.5%

• 60%

If the markup rate is 40% and the cost price is $60, what is the selling price?

• $100

• $60

• $140

• $84

How can you calculate the selling price using the markup rate?

• Multiply the cost price by 1 plus the markup rate

• Subtract the markup from the selling price

• Add the markup to the cost price

• Multiply the cost price by the markup rate

What is the selling price if the cost price is $60 and the markup rate is 40%?

• $140

• $100

• $84

• $60

If the selling price is $210 and the markup rate is 75%, what is the cost price?

• $120

• $150

• $180

• $210

How do you find the cost price if the selling price and markup rate are known?

• Divide the selling price by 1 plus the markup rate

• Multiply the selling price by the markup rate

• Add the markup to the selling price

• Subtract the markup from the selling price

What is the cost price if the selling price is $210 and the markup rate is 75%?

• $120

• $150

• $180

• $210