BUSINESS ADMINISTRATION
BUSINESS MATHEMATICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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the starting price
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the amount of increase in a price.
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the percent increase in the price
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the original price plus the markup or minus the markdown.
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Detailed explanation-1: -The original price is the starting price. It is sometimes called the cost or wholesale price. The selling price is the original price plus the markup or minus the markdown. The markup rate is the percent increase in the price, and the markdown rate (discount rate) is the percent decrease in the price.
Detailed explanation-2: -What is the markdown price formula? To compute markdown given the original price and the new price, you need to apply the formula: Markdown = Original price-Actual price . For instance, if the original price was $100 and the price the good is actually sold for is $80, then the markdown equals $20.
Detailed explanation-3: -Use the formula: selling price = ( 1 + markup rate ) × purchase price to solve problems involving markups. Use the formula: selling price = ( 1 + markdown rate ) × original price to solve problems involving markups.
Detailed explanation-4: -A price after a markdown may be called a sale price. You can also use a bar model to represent the price of an item including the markdown. A discount store marks down all of its holiday merchandise by 20% off the regular selling price.