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Exam 9: Markup and Markdown

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Question 21

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If the cost is $8.59 and the selling price is $14.19, what is the markup amount?

A) $22.78
B) $14.19
C) $5.60
D) $1.65

E) B) and C)
F) A) and D)

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Question 22

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The cost of a package of pencils is $0.75, and the markup amount is $0.30. What is the markup rate of the pencils?

A) 30%
B) 35%
C) 40%
D) 45%

E) A) and B)
F) None of the above

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Question 23

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A sofa sells for $849. The cost of the sofa is $428. What is the markup rate of the sofa?

An item that sells for $58.25 and has a markdown rate of 35% will have a sale price of $37.86.

An item with an original price of $235 is on sale for $188. What is the markdown rate?

Adrian's Salon tracks their retail merchandise in a spreadsheet. Cost is in Column B, Markup Rate is in Column C, Mark up Amount is in Column D, and Selling Price is in Column E. If the cost of a shampoo is in Cell B6, and its selling price is in Cell E6, what formulas are needed in Cell C6 to calculate markup rate based on cost and in Cell D6 to calculate markup amount?

The markup amount on a bicycle is $48, which is a 30% markup based on cost. What is the cost of the bicycle?

If the selling price of a calendar is $12.95 and the markup amount is $4.25, what is the cost?

What is the markup amount on a stool that costs $13.25 and has a markup rate of 52% based on its selling price?

Both operating costs and net profit are used to calculate _______.

Yolanda owns a flower shop. On the third day after flowers are delivered, she marks down the price 60%. If a bunch of roses originally sold for $26, what is the sale price?

The cost of a hardcover book is $7.50. The markup rate is 25%. What is the selling price?

A used car sells for $7,239. The cost of the car is $5,296. What is the markup rate based on the cost of the car? Round to the nearest tenth of a percent.

To find the sale price of an item, multiply the original price by the _____________ of the markdown rate.

Adrian's Salon tracks their retail merchandise in a spreadsheet. Cost is in Column B, Markup Rate is in Column C, Mark up Amount is in Column D, and Selling Price is in Column E. If the Markup Rate and Markup Amount Based on Cost are known, what formulas would be needed in Row 8 to find the missing values?

Lucy and Jonathon own a hot dog stand. To increase sales, they reduce the price of their hot dogs from $1.50 to $0.99. What is the markdown rate?

The original price of a boxed lunch is $5.25, and the sale price is $4.75. What is the markdown amount and markdown rate?

The markdown rate of an item is 30%, and the markdown amount is $18. What is the original price?

A bookshelf with an original price of $78.75 is on sale for $49.61. What is the markdown rate?

Net profit is what is left over after _______________ are paid.