# CALCULATING MARKUPS AND MARKDOWNS WORKSHEET

## About "Calculating markups and markdowns worksheet"

Calculating Markups and Markdowns worksheet :

Worksheet on calculating markups and markdowns is much useful to the students who would like to practice problems on profit and loss.

## Calculating markups and markdowns worksheet - Problems

1. To make a profit, stores mark up the prices on the items they sell. A sports store buys skateboards from a supplier for s dollars. What is the retail price for skateboards that the manager buys for \$35 and \$56 after a 42% markup ?

2. A discount store marks down all of its holiday merchandise by 20% off the regular selling price. Find the discounted price of decorations that regularly sell for \$16 and \$23.

3.  A computer store used a markup rate of 40%. Find the selling price of a computer game that cost the retailer \$25.

4.  A golf store pays its wholesaler \$40 for a certain club, and then sells it to a golfer for \$75. What is the markup rate ?

5.  A store uses a 40% markup on cost. Find the cost of a pair of shoes that sells for \$63.

6.  A trader marks his goods 20% above the cost price and allows a discount of 10% for cash. Find the mark up rate.

7.  A person wants to get 20% mark up rate after selling his object at 20% discount. Find the required percentage increase in marked price.

8. A product that regularly sells for \$425 is marked down to \$318.75. What is the discount rate ?

9. A product is marked down 15%; the sale price is \$127.46. What was the original price ?

10. A product is originally priced at \$55 is marked 25% off. What is the sale price ?

## Calculating markups and markdowns worksheet - Solution

Problem 1 :

To make a profit, stores mark up the prices on the items they sell. A sports store buys skateboards from a supplier for s dollars. What is the retail price for skateboards that the manager buys for \$35 and \$56 after a 42% markup ?

Solution :

Step 1 :

Use a bar model.

Draw a bar for the cost of the skateboard S.

Then draw a bar that shows the markup: 42% of S, or 0.42S.

These bars together represent the cost plus the markup.

That is

S + 0.42S

Step 2 :

Retail price = Original cost + Markup

= S + 0.42S

= 1S + 0.42S

= 1.42S

Step 3 :

Use the expression to find the retail price of each skateboard.

S  =  \$35 ----> Retail price  =  1.42(\$35)  =  \$49.70

S  =  \$56 ----> Retail price  =  1.42(\$56)  =  \$79.52

Let us look at the next example on "Calculating markups and markdowns worksheet".

Problem 2 :

A discount store marks down all of its holiday merchandise by 20% off the regular selling price. Find the discounted price of decorations that regularly sell for \$16 and \$23.

Solution :

Step 1 :

Use a bar model.

Draw a bar for the regular price P.

Then draw a bar that shows the discount: 20% of P, or 0.2P.

The difference between these two bars represents the price minus the discount.

That is,

P - 0.2P

Step 2 :

Sale price  =  Original price - Markdown

=  p - 0.2p

=  1p - 0.2p

=  0.8p

Step 3 :

Use the expression to find the sale price of each decoration.

p  =  \$16 --->  Sale price  =  0.8(\$16)  =  \$12.80

p  =  \$23 --->  Sale price  =  0.8(\$23)  =  \$18.40

Let us look at the next example on "Calculating markups and markdowns worksheet".

Problem 3 :

A computer store used a markup rate of 40%. Find the selling price of a computer game that cost the retailer \$25.

Solution :

Selling price (S.P) = (100+M)% x C.P

Here, M = 40, C.P = \$25

Then, S.P = (100 + 40)% x 25

S.P = 140% x 25

S.P = 1.4 x 25  =  \$35

Hence, the selling price is \$35.

Let us look at the next example on "Calculating markups and markdowns worksheet".

Problem 4 :

A golf store pays its wholesaler \$40 for a certain club, and then sells it to a golfer for \$75. What is the markup rate?

Solution :

Cost price (C.P) = \$ 40

Selling price (S.P) = \$ 75

Mark up value = 75 - 40  =  \$ 35

Mark up rate  =  (35/40)x100 %  =  87.5 %

Hence, the mark up rate is 87.5 %

Let us look at the next example on "Calculating markups and markdowns worksheet".

Problem 5 :

A store uses a 40% markup on cost. Find the cost of a pair of shoes that sells for \$63.

Solution :

Selling price (S.P) = (100+M)% x C.P ---------(1)

Here, S.P = \$ 63,  M  =  40

Plugging the above values in (1)

(1)-----------> 63  =   (100+40)% x C.P

63  =  140% x C.P ---------> 63  =  1.4 x C.P

63/1.4  =  C.P ---------> 45  =  C.P

Hence, the cost of a pair of shoes is \$ 45.

Let us look at the next example on "Calculating markups and markdowns worksheet".

Problem 6 :

A trader marks his goods 20% above the cost price and allows a discount of 10% for cash. Find the mark up rate.

Solution :

Let the cost price be \$100.

Then, marked price (M.P) = \$120

Let the selling price be "X"

From the above picture, we get

90% of (M.P) = X

(0.9).120 = X

108  =  X --------> S.P  =  108

Cost price = \$100,  Selling Price = \$108 ------>  Mark up rate = 8 %

Hence, the mark up rate is 8%.

Let us look at the next example on "Calculating markups and markdowns worksheet".

Problem 7 :

A person wants to get 20% mark up rate after selling his object at 20% discount. Find the required percentage increase in marked price.

Solution :

Let the cost price be \$100.

Then, the selling price = \$120

Let the marked price be "X"

From the above picture, we get

80% of (M.P) = S.P

(0.8)X  =  120

X  =  150 --------> M.P  =  150

Cost price = \$100,     Marked Price = \$150

Hence, the required percentage increase = 50%.

Let us look at the next example on "Calculating markups and markdowns worksheet".

Problem 8 :

A product that regularly sells for \$425 is marked down to \$318.75. What is the discount rate?

Solution :

Regular price  =  \$ 425

Marked down price  =  \$ 318.75

Marked down value  =  425 - 318.75  =  106.25

Marked down rate  =  (106.25 / 425) x 100 %

Marked down rate  =  25 %

Hence, the marked down rate is 25 %

Let us look at the next example on "Calculating markups and markdowns worksheet".

Problem 9 :

A product is marked down 15%; the sale price is \$127.46. What was the original price?

Solution :

Selling price (S.P) = (100 - M)% x Original price ---------(1)

Here,  S.P  =  127.46,  M  =  15

Plugging the above values in (1), we get

127.46  =  (100 - 15) x Original price

127.46  =  85% x Original price

127.46  =  0.85 x Original price

127.46 / 0.85  =  Original price

149.95  =  Original price

Hence, the original price is \$ 149.95.

Let us look at the next example on "Calculating markups and markdowns worksheet".

Problem 10 :

A product is originally priced at \$55 is marked 25% off. What is the sale price?

Solution :

Selling price (S.P) = (100 - M)% x L.P ---------(1)

Here, L.P  = \$ 55,  M  =  25

Plugging the above values in (1)

(1)-----------> S.P  =   (100 - 25)% x 55

S.P  =  75% x 55 ---------> S.P  =  0.75 x 55

S.P  =  41.25

Hence, the selling price is \$ 41.25

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