Exam 8: Markup and Markdown

A wholesaler buys plastic lamps for $18 each and sells them for $30.60. What is the percent markup based on cost?

In markdown calculations, the original cost of the merchandise is used as the base.

A hand dryer that previously sold for $31 has been reduced to $24.50. What is the markdown percent? (Round to the nearest whole percent)

The wholesale cost of a speedboat is $11,400. The original markup was 26% based on selling price. Find the final sale price after the following series of price changes: a markdown of 9%, a markdown of 46%, and a markup of 38%. (Round each selling price to the nearest cent)

The markup on a desk should be 31% based on selling price. If the seller paid $240 for one, then how much should it sell for to achieve the desired markup?

A price reduction from the original selling price of merchandise is known as a(n) ____________________.

Calculate the missing information, rounding dollars to the nearest cent and percents to the nearest tenth percent: Raincoat \1 2.50 Amount of \7 5.00 Percent Markup

In October, a hardware store purchased snow shovels for $8 each. The original markup was 50% based on the selling price. In December, the store had a sale and marked down the shovels by 20%. By January 1, the sale was over and the shovels were marked up 15%. In March, the store held a clearance sale of all winter tools by having a final markdown of 60%. What was the final selling price of the shovels? (Round to the nearest cent)

A customer just paid $3,202.50 for a computer system. If the percent markup based on cost is 83%, what was the cost?

Jack's Jewelry Store sells a ring for $30.99. If the store paid $15.20 for the ring, what is the amount of the markup?

Sunshine Produce purchased 2,000 watermelons for the Labor Day weekend at a cost of $0.96 each. If a 15% spoilage rate is anticipated, and the watermelons are sold for $4.16 each, what was the percent markup based on selling price? (Round to the nearest tenth of a percent)

Markdowns should be regarded as losses.

A calculator that previously sold for $44.99 has been reduced to $37.34. What is the markdown percent? (Round to the nearest whole percent)

A high-definition TV costs a company $3,300 to manufacture. If it sells for $6,732, what is the percent markup based on cost? (Round to the nearest whole percent)

____________________ expenses are all business expenses, other than cost of merchandise, required to operate a business.

Find the percent markup based on selling price, if the percent markup based on the cost is 14%. (Round to the nearest tenth percent)

A dining set costs a company $2,300 to manufacture. If it sells for $4,945, what is the percent markup based on cost?

At a red-tag sale, all items with red tags have been marked down by 49%. What should be the sale price of a DVD player having a red tag, if the pre-sale price was $234.95?

Calculate the missing information, rounding dollars to the nearest cent and percents to the nearest tenth percent: Ipad \1 75.00 \1 44.55 Amount of Percent Markup

The ____________________ price of an item is the promotional price of merchandise after a markdown.