In this lesson we will learn how to calculate a percent markup and how it changes the original price of an item. What is a percent markup? Well in retail, a store will buy an item for a certain amount from a manufacturer. In order to make money the store has to add to the price they paid for it and sell it to the customer for more.
Read MoreIn this lesson we’ll learn how to calculate a percent of, and the new sale price of an item with a discount. What is a percent markdown? In retail, a store will discount an item in order to sell it more quickly. The store usually does this as a percentage off the original amount they had planned to charge, and if that’s the case we call this a percent markdown.
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