Algebra - Cost and Markup Amount
Cost and Markup
A markup is the opposite of
. A discount is a reduction in the selling price. It has nothing to do with cost.
A markup is the amount which is added to the cost of acquiring a product or service in order to create a profit when that product/service is sold.Markup is the difference between the cost and the selling price
Markup = Selling Price - CostMarkup is the same as profit
Markup = Profit
Cost + Markup = Selling Price
Cost + Profit = Selling PriceMarkup is often expressed as a percentage
Markup in % = ((Selling Price - Cost) / Cost) * 100% Markup-on-Selling-Price
Markup in % = ((Selling Price - Cost) / Selling Price) * 100
Find the missing numbers?
Selling price = $175.00
markup on selling price, markup rate = 50%.
What is the cost and markup amount?