Retail Price Formula Cost + Markup $ = Retail Price
1.A calculator costs AB Products $15, and the markup is $10. What is the retail price?
2. A tennis racket retails for $175, and its markup is $85. What is its cost?
Percentage Markups Markup on Cost: Retail Price – Cost = Markup $
Markup $ / Cost = Markup % on Cost
Markup on Price: Retail Price – Cost = Markup $
Markup $ / Retail Price = Markup % on Price
3. Determine the markup percentage based on both retail and cost for a hand-held hair dryer that sells in the store for $17.95 and costs the business $10.77.
4. The retail price of a coffee mug is $10.99 and the cost is $6.50. What is the percentage markup based on cost? What about based on retail?
5. An electric sander costs $69.74, and its markup is $23.25. Find its percentage markup on cost. Calculate the retail price and find the percentage markup on retail price.
6. A gallery sells a framed print for $100, and its markup is $50. What is the percentage markup on cost? What is the percentage markup on retail?
Markup Equivalents Table (Pg. 487)
7. When the markup on retail is 28.5 %, what is its equivalent markup on cost?
8. The markup on cost is 60 %; what is its equivalent markup on retail?
9. What is the markup on cost if a bike retailing for $43.99 has a markup on retail of 33 1/3 %?
Markdowns Retail Price x Markdown % = Markdown $
Retail Price – Markdown $ = Sales Price
10. A suit that sells for $225 is to be marked down 40%. What is its new price?
11. A fan with a retail price of $18.95 has a markdown of 20%. What is its new price?
Maintained Markups Sales Price – Cost = Maintained Markup $
Maintained Markup $ / Sales Price = Maintained Markup %
12. A hand-held computer that costs $126 and retails for $350 has a 20% markdown. What is the new sales price? What is the maintained markup in dollars? What is the maintained markup percentage?
13. A trampoline costs Sam’s Club $230 and retails for $400 has a 30% markdown. What is the new sales price? What is the maintained markup in dollars? What is the maintained markup percentage?
Cash Discounts 2/15, net 60 = 2% discount if paid in 15 days, bill due in 60 days
14. Southbend Trucking receives an invoice in the amount of $225,000 showing the terms 2/10, net 30. The invoice lists five trucks at $45,000 each. If Southbend takes advantage of the discount, what will be the net amount due on the invoice? What is the net price per truck?
15. Sally’s Dinettes has an invoice dated March 10 that totals $65,429 for an order of tables and chairs it purchased from George’s Manufacturing. George’s terms are 3/15, net 45. What is the last day to get this discount? How much will Sally’s Dinettes pay for that order if the check is mailed on March 16?
Review
What is the formula for Return on Investment?
What is the Return on Investment for an item with a retail price of $10 and a cost of $6?
What is the formula for calculating the Break Even Point?
What is the Break Even Point for a company selling dolls for $6 each that cost $4.50 each to make if they plan to make 100,000 dolls?
Source: http://isite.lps.org/jmatzen/web/documents/MarkupandMarkdownMath.doc
Web site to visit: http://isite.lps.org
Author of the text: indicated on the source document of the above text
If you are the author of the text above and you not agree to share your knowledge for teaching, research, scholarship (for fair use as indicated in the United States copyrigh low) please send us an e-mail and we will remove your text quickly. Fair use is a limitation and exception to the exclusive right granted by copyright law to the author of a creative work. In United States copyright law, fair use is a doctrine that permits limited use of copyrighted material without acquiring permission from the rights holders. Examples of fair use include commentary, search engines, criticism, news reporting, research, teaching, library archiving and scholarship. It provides for the legal, unlicensed citation or incorporation of copyrighted material in another author's work under a four-factor balancing test. (source: http://en.wikipedia.org/wiki/Fair_use)
The information of medicine and health contained in the site are of a general nature and purpose which is purely informative and for this reason may not replace in any case, the council of a doctor or a qualified entity legally to the profession.
The texts are the property of their respective authors and we thank them for giving us the opportunity to share for free to students, teachers and users of the Web their texts will used only for illustrative educational and scientific purposes only.
All the information in our site are given for nonprofit educational purposes