Question 1

Which statement is true?

Accepted Answer

A)  Selling price equals cost minus markup amount. 
B)  Markup amount equals cost plus markdown. 
C)  Markup amount equals cost minus selling price. 
D)  Selling price equals cost plus markup amount. 
A)  Selling price equals cost minus markup amount. 
B)  Markup amount equals cost plus markdown. 
C)  Markup amount equals cost minus selling price. 
D)  Selling price equals cost plus markup amount.

Question 2

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

Accepted Answer

A)  $17.20 
B)  $12.95 
C)  $8.70 
D)  $4.45 
A)  $17.20 
B)  $12.95 
C)  $8.70 
D)  $4.45

Question 3

Jeff owns a gourmet food store. He prepares gourmet meals at a cost of $4.59 a meal and marks them up 42%. What is the selling price of a meal?

Accepted Answer

$6.52; $4.

Question 4

The markup rate of a music CD is 32% based on cost. If the markup amount on a CD is $6.35, what is the cost of the CD?

Accepted Answer

The answer of The markup rate of a music CD...

Question 5

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.

Accepted Answer

36.7%; $7,239 $5,296

Question 6

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

Accepted Answer

A)  33% 
B)  35% 
C)  37% 
D)  42% 
A)  33% 
B)  35% 
C)  37% 
D)  42%

Question 7

A puppy at a pet store has his price reduced by 40%, and the markdown amount is $120. What is the sale price?

Accepted Answer

A)  $480 
B)  $420 
C)  $300 
D)  $180 
A)  $480 
B)  $420 
C)  $300 
D)  $180

Question 8

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

Accepted Answer

$9.38; $7.50 × 0.25

Question 9

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

Accepted Answer

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

Question 10

Gretchen knits scarves that she sells online. She uses a markup rate of 68% over the cost of the materials and sells the scarves for $32. What is the markup amount?

Accepted Answer

A)  $23.67 
B)  $21.76 
C)  $19.05 
D)  $12.95 
A)  $23.67 
B)  $21.76 
C)  $19.05 
D)  $12.95

Question 11

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

Accepted Answer

$160; Divide the mar

Question 12

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

Accepted Answer

The answer of What is the markup amount on a...

Question 13

The original price on a table is $250. The table is on sale for $137.50. What is the markdown rate?

Accepted Answer

A)  55% 
B)  45% 
C)  40% 
D)  35% 
A)  55% 
B)  45% 
C)  40% 
D)  35%

Question 14

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

Accepted Answer

The answer of Both operating costs and net profit are...

Question 15

The markup rate of whole bean coffee at the Starlite Coffee Shop is 28% based on cost. If the markup amount on a pound of whole bean coffee is $2.25, what is the cost of the coffee?

Accepted Answer

$8.04; Divide the co

Question 16

Magnifying glasses sell for $12.50 and are marked up 32% of the selling price. What is the cost of a magnifying glass?

Accepted Answer

A)  $4.00 
B)  $6.25 
C)  $7.75 
D)  $8.50 
A)  $4.00 
B)  $6.25 
C)  $7.75 
D)  $8.50

Question 17

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?

Accepted Answer

A)  51% 
B)  44% 
C)  38% 
D)  34% 
A)  51% 
B)  44% 
C)  38% 
D)  34%

Question 18

A hat from last season is reduced by 60% and the markdown amount is $15. The sale price of the hat is $25.

Accepted Answer

A) True 
 B)False

Question 19

Janice marked down the coffee mugs 38%. If the sale price is $4.00, what is the original price?

Accepted Answer

$6.45; Divide the sa

Question 20

A set of kitchen cabinets sells for $5,290. The cost is $3,923. What is the markup amount?

Accepted Answer

The answer of A set of kitchen cabinets sells for...

Which statement is true?

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

Jeff owns a gourmet food store. He prepares gourmet meals at a cost of $4.59 a meal and marks them up 42%. What is the selling price of a meal?

The markup rate of a music CD is 32% based on cost. If the markup amount on a CD is $6.35, what is the cost of the CD?

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.

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

A puppy at a pet store has his price reduced by 40%, and the markdown amount is $120. What is the sale price?

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

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

Gretchen knits scarves that she sells online. She uses a markup rate of 68% over the cost of the materials and sells the scarves for $32. What is the 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?

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

The original price on a table is $250. The table is on sale for $137.50. What is the markdown rate?

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

The markup rate of whole bean coffee at the Starlite Coffee Shop is 28% based on cost. If the markup amount on a pound of whole bean coffee is $2.25, what is the cost of the coffee?

Magnifying glasses sell for $12.50 and are marked up 32% of the selling price. What is the cost of a magnifying glass?

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?

A hat from last season is reduced by 60% and the markdown amount is $15. The sale price of the hat is $25.

Janice marked down the coffee mugs 38%. If the sale price is $4.00, what is the original price?

A set of kitchen cabinets sells for $5,290. The cost is $3,923. What is the markup amount?

Basic Math Functions

Fractions

Percents

Bank Services

Payroll

Taxes

Insurance

Invoices and Discounts

Interest

Consumer Credit and Mortgages

Metrics and Currency

Filters

Exam 9: Markup and Markdown

Which statement is true?

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

Jeff owns a gourmet food store. He prepares gourmet meals at a cost of $4.59 a meal and marks them up 42%. What is the selling price of a meal?

The markup rate of a music CD is 32% based on cost. If the markup amount on a CD is $6.35, what is the cost of the CD?

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.

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

A puppy at a pet store has his price reduced by 40%, and the markdown amount is $120. What is the sale price?

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

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

Gretchen knits scarves that she sells online. She uses a markup rate of 68% over the cost of the materials and sells the scarves for $32. What is the 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?

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

The original price on a table is $250. The table is on sale for $137.50. What is the markdown rate?

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

The markup rate of whole bean coffee at the Starlite Coffee Shop is 28% based on cost. If the markup amount on a pound of whole bean coffee is $2.25, what is the cost of the coffee?

Magnifying glasses sell for $12.50 and are marked up 32% of the selling price. What is the cost of a magnifying glass?

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?

A hat from last season is reduced by 60% and the markdown amount is $15. The sale price of the hat is $25.

Janice marked down the coffee mugs 38%. If the sale price is $4.00, what is the original price?

A set of kitchen cabinets sells for $5,290. The cost is $3,923. What is the markup amount?

Basic Math Functions

Fractions

Percents

Bank Services

Payroll

Taxes

Insurance

Invoices and Discounts

Interest

Consumer Credit and Mortgages

Metrics and Currency

Filters