Question 1

Markdown amount = $8.19; markdown rate = 22%. Find the original price and reduced price.

Accepted Answer

A)  Original price = $29.04 
Reduced price = $37.23 
B)  Original price = $37.23
 Reduced price = $29.04 
C)  Original price = $9.99 
Reduced price = $1.80 
D)  Original price =$37.23
 Reduced price = $45.42 
A)  Original price = $29.04 
Reduced price = $37.23 
B)  Original price = $37.23
 Reduced price = $29.04 
C)  Original price = $9.99 
Reduced price = $1.80 
D)  Original price =$37.23
 Reduced price = $45.42

Question 2

A 60.0% markup based on cost is equivalent to what percent based on selling price (retail)?

Accepted Answer

A)  66.7% 
B)  33.3% 
C)  37.5% 
D)  62.5% 
A)  66.7% 
B)  33.3% 
C)  37.5% 
D)  62.5%

Question 3

percent of the selling price by 1 plus the markup percent of the selling price.

Accepted Answer

A) True 
 B)False

Question 4

The Oak House had a markup of $24.87 on an oak table that they sold for $88.99. Find the cost and the percent of markup.

Accepted Answer

A)  $64.12, 27.9% 
B)  $88.99, 27.9% 
C)  $64.12, 38.8% 
D)  $113.86, 21.8% 
A)  $64.12, 27.9% 
B)  $88.99, 27.9% 
C)  $64.12, 38.8% 
D)  $113.86, 21.8%

Question 5

A markdown represents a price increase from the original selling price.

Accepted Answer

A) True 
 B)False

Question 6

A toaster that originally sold for $31.00 was marked down to $28.50. The percent markdown was 38.9%.

Accepted Answer

A) True 
 B)False

Question 7

An item is originally priced to sell for $55 and is marked down 20%. A customer has a coupon for an additional 40%. What is the total percent reduction for this item? Give the net decimal equivalent and total percent reduction.

Accepted Answer

A)  0.52; 48% 
B)  0.6; 40% 
C)  0.4; 60% 
D)  0.48; 52% 
A)  0.52; 48% 
B)  0.6; 40% 
C)  0.4; 60% 
D)  0.48; 52%

Question 8

Markup represents the amount of the selling price needed to cover operating expenses an? overhead.

Accepted Answer

A) True 
 B)False

Question 9

In the markup stage of a markup / markdown series, the original price is always used.

Accepted Answer

A) True 
 B)False

Markdown amount = $8.19; markdown rate = 22%. Find the original price and reduced price.

A 60.0% markup based on cost is equivalent to what percent based on selling price (retail)?

percent of the selling price by 1 plus the markup percent of the selling price.

The Oak House had a markup of $24.87 on an oak table that they sold for $88.99. Find the cost and the percent of markup.

A markdown represents a price increase from the original selling price.

A toaster that originally sold for $31.00 was marked down to $28.50. The percent markdown was 38.9%.

An item is originally priced to sell for $55 and is marked down 20%. A customer has a coupon for an additional 40%. What is the total percent reduction for this item? Give the net decimal equivalent and total percent reduction.

Markup represents the amount of the selling price needed to cover operating expenses an? overhead.

In the markup stage of a markup / markdown series, the original price is always used.

Review of Whole Numbers and Integers

Review of Fractions

Decimals

Banking

Equations

Percents

Business Statistics

Trade and Cash Discounts

Payroll

Simple Interest and Simple Discount

Consumer Credit

Filters

Exam 9: Markup and Markdown

Markdown amount = $8.19; markdown rate = 22%. Find the original price and reduced price.

A 60.0% markup based on cost is equivalent to what percent based on selling price (retail)?

percent of the selling price by 1 plus the markup percent of the selling price.

The Oak House had a markup of $24.87 on an oak table that they sold for $88.99. Find the cost and the percent of markup.

A markdown represents a price increase from the original selling price.

A toaster that originally sold for $31.00 was marked down to $28.50. The percent markdown was 38.9%.

An item is originally priced to sell for $55 and is marked down 20%. A customer has a coupon for an additional 40%. What is the total percent reduction for this item? Give the net decimal equivalent and total percent reduction.

Markup represents the amount of the selling price needed to cover operating expenses an? overhead.

In the markup stage of a markup / markdown series, the original price is always used.

Review of Whole Numbers and Integers

Review of Fractions

Decimals

Banking

Equations

Percents

Business Statistics

Trade and Cash Discounts

Payroll

Simple Interest and Simple Discount

Consumer Credit

Filters