Worksheet on Discount and Markup is available on this page. The students can learn how to solve Discount and Markup-related problems here. We have provided the different models of questions asked on Discount and Markup in the Markup Worksheet with Answers. Get free access to practice these questions on Markup and Discount and crack the exams easily. Make use of this page and score well in all kinds of competitive exams or your academic exams.
Also, check
Markup and Discount Worksheet PDF
Question 1. A product cost in a shop is $100. If the markup set by the shop is 20%. Calculate the markup price set by the shop on that product.
Solution:
Given that the product price by the shop is $100.
The markup set by the store is 20%.
Markup Percentage = 20%
Now, find the markup price set by the shop on the product.
The Markup Price = Markup Percentage of product price
Markup Price = 20% of $100 = \(\frac { 20 }{ 100 } \) × $100 = $20.
Therefore, the Markup Price set by the shop on the product is $20.
Question 2. The store price of a rice cooker is $500. If the markup percent set by the store is 23%. Calculate the markup price set by the store on the rice cooker.
Solution:
Given that the store price of a rice cooker is $500.
Store price = $500
The markup set by the store is 23%.
Markup Percentage = 23%
Now, find the markup price set by the store on the rice cooker.
The Markup Price = Markup Percentage × store’s cost
Now, substitute Store price and Markup Percentage in the above formula.
Markup Price = 23% × $500 = \(\frac { 23 }{ 100 } \) × $500 = 23 × $5 = .$115.
Therefore, the Markup Price set by the store on the rice cooker is $115.
Question 3. The cost price of a ceiling fan is Rs 3,000. The markup percent set by the store owner is 30%. Calculate the markup price and selling price of the ceiling fan.
Solution:
Given that the cost price of a ceiling fan is Rs 3,000.
Cost price = Rs 3,000.
The markup percent set by the store owner is 30%.
Markup Percentage = 30%
Now, find the markup price set by the store owner on the ceiling fan.
The Markup Price = Markup Percentage × store’s cost
Now, substitute Cost price and Markup Percentage in the above formula.
Markup Price = 30% × Rs 3,000 = \(\frac { 30 }{ 100 } \) × Rs 3,000 = 30 × Rs 30 = Rs 900.
Markup Price = Rs 900.
Now, find the selling price set by the store owner on the ceiling fan.
Selling price = store’s cost + markup price
Now, substitute Cost price and Markup price in the above formula.
Selling price = store’s cost + markup price = Rs 3,000 + Rs 900 = Rs 3,900
Therefore, the Markup Price set by the store on the ceiling fan is Rs 900 and the Selling price set by the store on the ceiling fan is Rs 3,900.
Question 4. The cost price of an electronic device is $520. The markup percent set by the store is 20%. Calculate the markup price set by the shopkeeper on the electronic device. Also, find the selling price of the electronic device.
Solution:
Given that the cost price of an electronic device is $520.
Cost price = $520.
The markup percent set by the store owner is 20%.
Markup Percentage = 20%
Now, find the markup price set by the store owner on the electronic device.
The Markup Price = Markup Percentage × store’s cost
Now, substitute Cost price and Markup Percentage in the above formula.
Markup Price = 20% × $520 = \(\frac { 20 }{ 100 } \) × $520 = $104.
Markup Price = $104.
Now, find the selling price set by the store owner on the electronic device.
Selling price = store’s cost + markup price
Now, substitute Cost price and Markup price in the above formula.
Selling price = store’s cost + markup price = $520 + $104 = $624
Therefore, the Markup Price set by the store on the electronic device is $104 and the Selling price set by the store on the electronic device is $520.
Question 5. If the selling price of a carrom board is $600. If the markup set by the store was 20%. Then calculate the cost price of the carrom board. Also, find the markup price for the carrom board.
Solution:
Given that the selling price of a carrom board is $600.
Selling price = $600.
The markup set by the store was 20%.
Markup Percentage = 20%.
Let the Cost Price = c = 100%
c + m = p
100% + 20% = 120%.
c + 20%c = selling price
c[1 + 20%] = selling price
c [1 + \(\frac { 20 }{ 100 } \)] = selling price
c [1 + 0.2] = $600
c (1.2) = $600
c = \(\frac { $600 }{ 1.2 } \)
c = $500.
The cost price of the carrom board is $500.
Now, find the markup price for the carrom board.
Markup price = Selling price – store’s cost price
Substitute the Selling price and store’s cost price in the above formula.
Markup price = $600 – $500 = $100
Therefore, the cost price of the carrom board is $500 and the Markup price of the carrom board is $100.
Question 6. The store price of a chair is $100. If the discount given by the store is 25%, calculate the discount amount offered by the store on the chair.
Solution:
Given that the store price of a chair is $100.
Store price = $100.
The discount given by the store is 25%.
Discount = 25%.
Now, find the discount amount offered by the store on the chair.
Discount amount = discount percent x cost/store price
Substitute the discount percent and cost/ store price in the above formula.
Discount amount = discount percent x cost/store price
Discount amount = 25% x $100 = \(\frac { 25 }{ 100 } \) x $100 = $25
Therefore, the discount amount offered by the store on the chair is $100.
Question 7. The cost price of an oxygen cylinder kept in a sale is Rs 6,000. If the discount offered on the grinder is 40%. Calculate the discount price that is offered on the oxygen cylinder.
Solution:
Given that the cost price of an oxygen cylinder is $6,000.
Cost price = $6,000.
The discount given by the store is 40%.
Discount = 40%.
Now, find the discount amount offered by the store on the oxygen cylinder.
Discount amount = discount percent x cost/store price
Substitute the discount percent and cost/ store price in the above formula.
Discount amount = discount percent x cost/store price
Discount amount = 40% x $6,000 = \(\frac { 40 }{ 100 } \) x $6,000 = $2,400
Therefore, the discount amount offered by the store on the oxygen cylinder is $2,400.
Question 8. The store price of a charger is $70. If the discount offered by the store is 15%. Calculate the discount amount and selling price of the charger.
Solution:
Given that the store price of a charger is $70.
Store price = $70.
The discount given by the store is 15%.
Discount = 15%.
Now, find the discount amount offered by the store on the charger.
Discount amount = discount percent x cost/store price
Substitute the discount percent and cost/ store price in the above formula.
Discount amount = discount percent x cost/store price
Discount amount = 15% x $70 = \(\frac { 15 }{ 100 } \) x $70 = $10.5
Now, find the selling price of the charger.
Selling price = cost/store price – discount amount
Substitute cost/store price and discount amount in the above equation.
Selling price = $70 – $10.5 = $59.5
Therefore, the discount amount offered by the store on the charger is $10.5 and the Selling price on the charger is $59.5.
Question 9. The cost price of a keyboard is $150. If the discount offered by the shopkeeper is 35%. Calculate the discount amount and selling price of the keyboard.
Solution:
Given that the cost price of a keyboard is $150.
Cost price = $150.
The discount offered by the shopkeeper is 35%.
Discount = 35%.
Now, find the discount amount offered by the shopkeeper on the keyboard.
Discount amount = discount percent x cost/store price
Substitute the discount percent and cost/ store price in the above formula.
Discount amount = discount percent x cost/store price
Discount amount = 35% x $150 = \(\frac { 35 }{ 100 } \) x $150 = $52.5
Now, find the selling price of the keyboard.
Selling price = cost/store price – discount amount
Substitute cost/store price and discount amount in the above equation.
Selling price = $150 – $52.5 = $97.5
Therefore, the discount amount offered by the store on the keyboard is $52.5 and the Selling price on the keyboard is $97.5.
Question 10. The selling price of a motor is $375. If the discount offered by the store was 5%. Calculate the cost price of the motor. Also, find the discount amount offered by the store.
Solution:
Given that the cost price of a keyboard is $150.
Cost price = $150.
The discount offered by the shopkeeper is 35%.
Discount = 35%.
Now, find the discount amount offered by the shopkeeper on the keyboard.
Discount amount = discount percent x cost/store price
Substitute the discount percent and cost/ store price in the above formula.
Discount amount = discount percent x cost/store price
Discount amount = 35% x $150 = \(\frac { 35 }{ 100 } \) x $150 = $52.5
Now, find the selling price of the keyboard.
Selling price = cost/store price – discount amount
Substitute cost/store price and discount amount in the above equation.
Selling price = $150 – $52.5 = $97.5
Therefore, the discount amount offered by the store on the keyboard is $52.5 and the Selling price on the keyboard is $97.5.
Question 11. The marked price of a video player is $ 2340. The shopkeeper offers a discount of 30% on it. Find its selling price.
Solution:
Given that the marked price of a video player is $ 2340.
Marked price = $2340.
The discount offered by the shopkeeper is 30%.
Discount = 30%.
Now, find the Discount offered by the shopkeeper on the video player.
Discount amount = discount percent x cost/store price
Substitute the discount percent and cost/ store price in the above formula.
Discount amount = discount percent x cost/store price
Discount amount = 30% x $2340 = \(\frac { 30 }{ 100 } \) x $2340 = $702
Now, find the selling price of the video player.
Selling price = cost/store price – discount amount
Substitute cost/store price and discount amount in the above equation.
Selling price = $2340 – $702 = $1638
Therefore, the discount amount offered by the store on the video player is $702 and the Selling price on the video player is $1638.
Question 12. Find the rate of discount is given on a chair whose selling price is $273 after deducting a discount of $52 on its marked price.
Solution:
Given that the selling price of a chair is $ 273.
Selling price = $273.
The deducting a discount of $52 on its marked price of a chair.
Discount = $52.
Now, find the marked price on the chair.
Marked price on the chair = discount + selling price
Substitute the discount and selling price in the above formula.
Marked price on the chair = $52 + $273
Marked price on the chair = $325
Now, find the rate of discount of the chair.
Rate of discount = (discount x 100)/ Marked price
Substitute discount and Marked price in the above equation.
Rate of discount = ($52 x 100)/ $325 = 16%
Therefore, the Rate of discount is 16%.