Markup and Discount Worksheet
A Grade 12 math worksheet on calculating markup percentages, discount percentages, selling prices, and original prices.
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Markup and Discount
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Read each question carefully and solve for the unknown value. Show your work where applicable.
1. A store buys a jacket for $50 and sells it for $80. What is the markup percentage based on the cost?
2. An item costs a retailer $120. If the retailer wants a 40% markup on the selling price, what should the selling price be?
3. The difference between the cost of an item and its selling price is called the .
4. When calculating markup based on cost, the is used as the base for the percentage.
5. A television is priced at $600. If it is sold for $480, what is the discount percentage?
6. A shirt originally costs $45. If there's a 20% discount, what is the new selling price?
7. A discount always increases the seller's profit margin.
True
False
8. A 25% markup on cost is the same as a 25% markup on selling price.
True
False
9. A store marks up an item by 30% from its cost of $200. Later, it offers a 15% discount on the marked-up price. What is the final selling price?