Markup and Markdown Test
Terms in this set (16)
Put the following items in order from most expensive to least expensive.
D - DVD, jeans, toaster, headphones
A mattress underwent the following changes in price before being removed from the store. If the final price of the mattress was $227.83, what was the original price of the mattress, to the nearest dollar? Round all dollar values to the nearest cent.
A software store has put some of its inventory on sale. Games are marked down by 15%, and security programs are marked down by 18%. If you pay $35.70 each for two games and $22.96 for a security program, how much have you saved?
A store marks down the price of a necklace from $389.85 to $314.15. By what percent did the price decrease? Round to two decimal places.
C - 19.42%
A floor lamp originally cost $44.50. Over a period of two months, it underwent the following changes in price. What is the final price of the floor lamp? Round all dollar values to the nearest cent.
B - $47.72
Craig runs a clothing store. He has decided to apply a markdown of 30% to one item in order to draw customers into the store, and he will apply a markup of 25% to three different items, which he hopes the customers will purchase after purchasing the marked-down item. He has chosen four candidates for this process: a leather jacket with an initial cost of $112.75, a blazer with an initial cost of $76.85, a pair of boots with an initial cost of $134.50, and a wristwatch with an initial price of $89.65. After applying the changes, the total cost of purchasing one of each item is $29.46 more than it was before applying the changes. Which item was marked down?
In order to clear out room for new merchandise, James decided to mark down some of the items for sale in his electronics store. He marked down DVD players by 36%, and he marked down stereo tuners by 22%. If DVD players cost $41.60 after the markdown and stereo tuners cost $69.42 after the markdown, which item's price was reduced by more, and by how many dollars more was it reduced? Round all dollar values to the nearest cent.
A - The DVD player's price was reduced by $3.82 more than the stereo tuner's price.
Winter is coming, so Sasha decides to buy new outdoor gear. She has a coupon good for 25% off. She buys a coat with an original price of $85.75, a pair of boots with an original price of $71.99, a scarf with an original price of $24.25, and a pair of gloves with an original price of $44.95. She pays a total of $208.94. To which item did Sasha apply her coupon?
B - boots
Richard's store sells pineapples and grapefruits. Pineapples originally cost $5.15 apiece, and grapefruits originally cost $2.25 apiece. Richard reduced the prices to $3.88 for a pineapple and $1.56 for a grapefruit. Which fruit had its price reduced by a greater percent, and how many percentage points greater was that reduction than the other? Round to two decimal places. (Express your answer in percentage points; for example, 15% is 3 percentage points greater than 12%.)
C - The price of grapefruits experienced a reduction 6.01 percentage points greater than the price of pineapples.
A jacket costs $72.90 before it is marked down 42%. What is its new price, to the nearest cent?
B - $42.28
A store is selling a black pair of shoes for $79.45 and a brown pair of shoes for $133.99. The black pair of shoes is marked up by 44%, and the brown pair of shoes is marked down by 21%. Which pair of shoes is more expensive, and how much more expensive is it? Round all dollar values to the nearest cent.
B - The black pair costs $8.56 more than the brown pair.
A book with a base price of $15.75 is marked up by 65%. What is the new price, to the nearest cent?
Which of the following statements best describes the difference between markup and margin?
D - Markup relates profit to cost while margin relates profit to selling price.
Jan went grocery shopping and only bought items which had been marked down. The items she bought, along with their prices, can be seen below.
C - 16.65%
Ira purchased a new dishwasher for $361.35. The dishwasher was on sale for 17.5% off. What was the original price of the dishwasher, to the nearest dollar?
A retailer marks up the price of a coffee mug from $6.25 to $8.77. By what percent did the price increase? Round to two decimal places.
C - 40.32%