Markup and Markdown 100%

Explain the difference between a markup and a margin.

Profit margin is sales minus the cost of goods sold. Markup is the percentage amount by which the cost of a product is increased to arrive at the selling price.

An item that has been marked up sells for a profit. If an item sells that has been marked down, can it still produce a profit? Explain.

Yes, it can. On most things (especially clothes and furniture) they will be already marked up 100% before the mark down. For example; even if they have a, let's say, 40% off sale on the shirt, they will still make a 10% profit off the shirt. So pretty much in most cases, there will still be a profit out of the merchandise.

A mattress underwent the following changes in price before being removed from the store. If the final price of the mattress was $227.83, what was the original price of the mattress, to the nearest dollar? Round all dollar values to the nearest cent. a. $356 b. $312 c. $251 d. $146

a. $356

In order to clear out room for new merchandise, James decided to mark down some of the items for sale in his electronics store. He marked down DVD players by 36%, and he marked down stereo tuners by 22%. If DVD players cost $41.60 after the markdown and stereo tuners cost $69.42 after the markdown, which item's price was reduced by more, and by how many dollars more was it reduced? Round all dollar values to the nearest cent. a. The DVD player's price was reduced by $3.82 more than the stereo tuner's price. b. The DVD player's price was reduced by $27.82 more than the stereo tuner's price. c. The stereo tuner's price was reduced by $0.29 more than the DVD player's price. d. The stereo tuner's price was reduced by $27.53 more than the DVD player's price.

a. The DVD player's price was reduced by $3.82 more than the stereo tuner's price.

Greg purchased supplies for a party. He had a coupon good for 30% off. He purchased a helium tank rental with an original price of $31.61, a sheet cake with an original price of $18.44, a punch bowl with an original price of $12.78, and paper decorations with an original price of $23.69. Greg's total came to $80.99. To which item did Greg apply his coupon? a. cake b. helium tank rental c. paper decorations d. punch bowl

a. cake

An optical mouse originally cost $31.85. Before it was removed from the store, it underwent the following changes in price. What is the final price of the optical mouse? Round all dollar values to the nearest cent. a. $46.82 b. $43.21 c. $35.33 d. $26.75

b. $43.21

A floor lamp originally cost $44.50. Over a period of two months, it underwent the following changes in price. What is the final price of the floor lamp? Round all dollar values to the nearest cent. a. $62.30 b. $47.72 c. $35.60 d. $24.48

b. $47.72

A sporting goods store is having a large sale event. Baseball bats are marked down by 42%, and hockey sticks are marked down by 29%. If baseball bats cost $21.46 after the markdown and hockey sticks cost $39.05 after the markdown, which item's price was reduced by more, and by how many more dollars was it reduced? Round all dollar values to the nearest cent. a. Hockey sticks had their prices reduced by $2.31 more than baseball bats. b. Hockey sticks had their prices reduced by $0.41 more than baseball bats. c. Baseball bats had their prices reduced by $4.22 more than hockey sticks. d. Baseball bats had their prices reduced by $0.59 more than hockey sticks.

b. Hockey sticks had their prices reduced by $0.41 more than baseball bats.

A store is selling a black pair of shoes for $79.45 and a brown pair of shoes for $133.99. The black pair of shoes is marked up by 44%, and the brown pair of shoes is marked down by 21%. Which pair of shoes is more expensive, and how much more expensive is it? Round all dollar values to the nearest cent. a. The black pair costs $6.82 more than the brown pair. b. The black pair costs $8.56 more than the brown pair. c. The brown pair costs $9.72 more than the black pair. d. The brown pair costs $12.54 more than the black pair.

b. The black pair costs $8.56 more than the brown pair.

Put the following items in order from most expensive to least expensive. a. blender, heater, ink, hat b. blender, ink, hat, heater c. ink, hat, blender, heater d. ink, heater, blender, hat

b. blender, ink, hat, heater

Winter is coming, so Sasha decides to buy new outdoor gear. She has a coupon good for 25% off. She buys a coat with an original price of $85.75, a pair of boots with an original price of $71.99, a scarf with an original price of $24.25, and a pair of gloves with an original price of $44.95. She pays a total of $208.94. To which item did Sasha apply her coupon? a. coat b. boots c. scarf d. gloves

b. boots

Ashley runs a hardware store. She has decided to apply a markdown of 15% to one item in order to draw customers into the store, and she will apply a markup of 10% to three different items, which she hopes the customers will purchase after purchasing the marked-down item. She has chosen four candidates for this process: a power drill with an initial price of $51.49, a ceiling fan with an initial price of $64.79, a miniature circular saw with an initial price of $45.99, and a screwdriver set with an initial price of $37.39. After applying the changes, the total cost of purchasing one of each item is $3.77 more than it was before applying the changes. Which item was marked down? a. power drill b. ceiling fan c. circular saw d. screwdriver set

b. ceiling fan

A desk chair underwent the following changes in price before being removed from the store. If the final price of the desk chair was $167.79, what was the original price, to the nearest dollar? Round all dollar values to the nearest cent. a. $88 b. $122 c. $144 d. $196

c. $144

A roast chicken with a base price of $6.89 is marked up by 21%. What is the new price, to the nearest cent? a. $12.33 b. $9.97 c. $8.34 d. $7.10

c. $8.34

Jan went grocery shopping and only bought items which had been marked down. The items she bought, along with their prices, can be seen below. Compared to if she had bought no items on sale, by what percent was Jan's total grocery bill discounted? Round to two decimal places. a. 15.85% b. 16.50% c. 16.65% d. 17.50%

c. 16.65%

A retailer marks up the price of a coffee mug from $6.25 to $8.77. By what percent did the price increase? Round to two decimal places. a. 28.73% b. 39.68% c. 40.32% d. 45.97%

c. 40.32%

Richard's store sells pineapples and grapefruits. Pineapples originally cost $5.15 apiece, and grapefruits originally cost $2.25 apiece. Richard reduced the prices to $3.88 for a pineapple and $1.56 for a grapefruit. Which fruit had its price reduced by a greater percent, and how many percentage points greater was that reduction than the other? Round to two decimal places. (Express your answer in percentage points; for example, 15% is 3 percentage points greater than 12%.) a. The price of pineapples experienced a reduction 5.99 percentage points greater than the price of grapefruits. b. The price of pineapples experienced a reduction 19.90 percentage points greater than the price of grapefruits. c. The price of grapefruits experienced a reduction 6.01 percentage points greater than the price of pineapples. d. The price of grapefruits experienced a reduction 11.50 percentage points greater than the price of pineapples.

c. The price of grapefruits experienced a reduction 6.01 percentage points greater than the price of pineapples.

Craig runs a clothing store. He has decided to apply a markdown of 30% to one item in order to draw customers into the store, and he will apply a markup of 25% to three different items, which he hopes the customers will purchase after purchasing the marked-down item. He has chosen four candidates for this process: a leather jacket with an initial cost of $112.75, a blazer with an initial cost of $76.85, a pair of boots with an initial cost of $134.50, and a wristwatch with an initial price of $89.65. After applying the changes, the total cost of purchasing one of each item is $29.46 more than it was before applying the changes. Which item was marked down? a. wristwatch b. leather jacket c. boots d. blazer

c. boots

A microwave oven costs $124.85 before it is marked down. If it is marked down by 63%, what is its new price, to the nearest cent? a. $78.66 b. $61.85 c. $58.68 d. $46.19

d. $46.19

A plant nursery is having a sale. Potted begonias are marked down 27%, and tomato seedlings are marked down 35%. If you pay $6.57 each for two potted begonias and $2.60 each for three tomato seedlings, how much did you save? a. $3.83 b. $5.31 c. $6.92 d. $9.06

d. $9.06

Put the following items in order from most expensive to least expensive. a. headphones, jeans. toaster, DVD b. headphones, DVD, toaster, jeans c. DVD, toaster, headphones, jeans d. DVD, jeans, toaster, headphones

d. DVD, jeans, toaster, headphones

A store is selling a green rug for $54.50 and a white rug for $31.85. The green rug is marked down by 12%, and the white rug is marked up by 16%. After the markup and markdown, which rug is more expensive, and how much more expensive is it? Round all dollar values to the nearest cent. a. The white rug is $1.09 more expensive than the green rug. b. The white rug is $5.35 more expensive than the green rug. c. The green rug is $1.44 more expensive than the white rug. d. The green rug is $11.01 more expensive than the white rug.

d. The green rug is $11.01 more expensive than the white rug.