Exam 9: Markup and Markdown

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?

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?

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?

Which statement is correct to find the markup amount when the cost and selling price are known?

An item has a retail price of $35.99. If the markup amount is $11.19, what is the cost?

A jacket that originally sold for $52.99 is marked down 25%. What is the sale price?

The selling price of a pair of women's jeans is $47.50. If the markup rate is 33% based on cost, what is the cost of the jeans?

Mary Ann is a sales associate at a jewelry store. She receives bracelets that cost $115 each and marks them up 35%. What is the selling price of a bracelet?

The original selling price and the sale price of a dress are stored in Cell B2 and Cell C2 in an Excel spreadsheet. The formula, entered in Cell D2, =B2-C2, calculates the markdown rate of the dress.

The original price of a hair cut is $27. On Mondays, the price is reduced to $16.20. What is the markdown rate?

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?

Lisa and Joseph own a lighting store. Last year, their net profit was $245,000. If last year's operating costs were $629,501, what were last year's gross profits?

Mr. Chang marked down bags of rice by 25%. If the sale price is $7.00, what is the original price of the rice?

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

The cost of an oven is $375. If the markup rate is 30% of the selling price, what is the selling price?

An item costs $1,095 and the selling price is $1,292.10. How is the markup rate calculated?