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Markups and Discounts

Quiz by Shane Erlandson

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15 questions
Show answers
  • Q1
    If a shirt costs $20 and the store applies a markup of 25%, what will be the selling price of the shirt?
    $22
    $15
    $25
    $30
    30s
  • Q2
    If a pair of shoes originally costs $40 and the store decides to apply a 40% markup, what is the total price after markup?
    $60
    $56
    $44
    $48
    30s
  • Q3
    What is markup in terms of pricing?
    The tax applied on a product's selling price
    The total cost of producing an item
    The amount added to the cost price of a product to determine its selling price
    A type of discount offered to customers
    30s
  • Q4
    Which of the following best describes the purpose of markup?
    To reduce the selling price for customers
    To increase the demand for a product
    To cover expenses and make a profit on goods sold
    To determine the cost of production
    30s
  • Q5
    If a store buys a table for $200 and marks it up by 30%, what will the selling price be?
    $180
    $260
    $240
    $300
    30s
  • Q6
    A bicycle is purchased for $150. If the retailer applies a 20% markup on the bicycle, what is the selling price?
    $180
    $150
    $170
    $160
    30s
  • Q7
    If a store has a markup rate of 15% on all electronic gadgets and a laptop costs $800, what is the final selling price of the laptop?
    $920
    $900
    $880
    $850
    30s
  • Q8
    If a jacket costs $60 and the store marks it up by 50%, what is the selling price of the jacket?
    $75
    $90
    $80
    $70
    30s
  • Q9
    A video game is priced at $50. If a store marks up the price by 25%, what will the new price be?
    $62.50
    $60
    $55
    $50
    30s
  • Q10
    A pair of shoes costs $70. If a store decides to apply a 30% markup, what is the final selling price of the shoes?
    $70
    $80
    $91
    $60
    30s
  • Q11
    A store is offering a 20% discount on all items. If a shirt originally costs $50, how much will it cost after the discount?
    $35
    $30
    $45
    $40
    30s
  • Q12
    During a sale, a bicycle is marked down by 25%. If the original price of the bicycle is $200, what is the sale price?
    $125
    $150
    $180
    $175
    30s
  • Q13
    A jacket is on sale for 25% off its regular price of $120. How much money do you save with this discount?
    $40
    $30
    $25
    $35
    30s
  • Q14
    A pair of shoes is originally priced at $80 and is now being sold at a 40% discount. What is the new price of the shoes?
    $50
    $32
    $60
    $48
    30s
  • Q15
    An electronic store is offering a 10% discount on all laptops. If a laptop originally costs $1,000, what is the discount amount?
    $100
    $110
    $90
    $95
    30s

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