Calculating Markups and Markdowns
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Objective
I can calculate the final price of an item after percent markups and markdowns.
Part 1 of 4
Warm-up video
Joshua Emmanuel · 5:44
We don't generate video — this one is by Joshua Emmanuel on YouTube. The practice questions and exit ticket below were drafted by AI for this objective, and every question is editable in the teacher guide.
Part 2 of 4
Key concepts
3 concepts
- 1
Markup is the difference between the selling price and the cost of an item, calculated as Selling Price – Cost.
- 2
The rate of markup based on cost (RC) is calculated as Markup divided by Cost, while the rate of markup based on selling price (RS) is calculated as Markup divided by Selling Price.
- 3
If an item costs $70 and the rate of markup based on selling price is 60%, the selling price can be calculated using the formula S = Cost + Markup, resulting in a selling price of $175 and a markup of $105.
Part 3 of 4
Practice
10 questions
Define 'markup' in the context of selling price and cost.
Express the formula for calculating the rate of markup based on cost (RC).
Part 4 of 4
Exit ticket
Quick comprehension check
“A phone costs a store $300. If they mark it up 25% of the cost, what is the selling price?”
Sample answer included in the free materials
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