Digits, Grade 7, Volume 1, Homework Helper

9-6: Markups and Markdowns

Part 1

Intro

Markup is the amount of increase from the cost to the selling price.

table with 3 rows and 2 columns , row1 column 1 , markup , column 2 equals . sellingpriceen dashcost , row2 column 1 , , column 2 equals 28 minus 16 , row3 column 1 , , column 2 equals 12 , end table

T-shirt cost = $16. T-shirt selling price = $28.

The markup is $12. You can represent the amount of markup as a percent increase.

table with 5 rows and 2 columns , row1 column 1 , markup , column 2 equals 12 , row2 column 1 , percentincrease , column 2 equals . fraction amountofchange , over originalquantity end fraction , row3 column 1 , percentmarkup , column 2 equals . fraction markup , over cost end fraction , row4 column 1 , , column 2 equals , 12 over 16 , row5 column 1 , , column 2 equals , 3 fourths , comma , or75percent , end table

There is a 75% markup on the shirt.

Example Calculating Percent Markup

What is the percent markup for each item? Round to the nearest percent.

Solution

Step 1 Find the markup.

table with 3 rows and 1 column , row1 column 1 , markupequalssellingpriceen dashcost , row2 column 1 , equals , 1.50 , minus , 0.25 , equals 300 minus 180 equals 12 comma 000 minus 8 comma 000 , row3 column 1 , equals , 1.25 , equals 120 equals 4 comma 000 , end table


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Table of Contents

Digits, Grade 7, Volume 1, Homework Helper Unit A: Number and Operations Unit B: Expressions, Equations, and Relationships Unit C: Measurement and Geometry Unit D: Proportionality English/Spanish Glossary Formulas Math Symbols Formulas Measures Properties