Computing Discounts Study Guides

University:
La Salle University
Course:
MKT 307 | Services Marketing
Academic year:

2023
Views:

359

Pages:

1
Author:

Natasha Wise

Computing Discounts Truths about purchasing items at the store: • When purchasing items at a store, you pay more for the item than the retailer did...this is how they make a PROFIT. • The price the retailer paid for the item is called WHOLESALE • The price the retailer sells the item for in the store is called RETAIL • The difference between the wholesale and retail price is MARKUP • The DISCOUNT is the difference between the retail and sale price • The MARKUP is the difference between the wholesale and retail price • The MARKUP PERCENTAGE is the percent an item is marked up. You calculate this by dividing the markup by the wholesale price, then multiplying by 100 • The DISCOUNT PERCENTAGE is the percent an item is discounted. You calculate this by dividing the discount by the original price, then multiplying by 100. Complete the chart below: Item Wholesale Price Retail Price Markup Markup Percentage T-shirt $2.99 $9.99 7.00 234.11% Jeans $19.50 $42.90 23.40 120% Book $1.49 $8.99 Television $399.00 $662.34 Couch $279.80 $1,399.00 Soft drink $.50 $.79 Kayak $499.00 $1799.00 Complete the chart below: Item Retail Price Sale Price Discount Discount Percentage T-Shirt $23.49 $17.99 5.50 23.4% Sweatshirt $78.21 $49.99 Shoes $156.00 $81.00 Hat $56.00 $29.99 Sweater $78.00 $19.99 Belt $21.99 $11.99