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Business math Ch. 8 Exam Questions with Correct Answers

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Formula for markup - ANSWER-Selling price = Cost + Markup (S=C+M) Formula for markup on cost - ANSWER-Markup on cost = Amount of markup/ Cost Formula for selling prices as a percent of cost - ANSWER-Selling price as percent of cost = Selling price / Cost Formula for percent of Markup on cost - ANSWER-Selling price percent = 100% + Markup percent Formula for cost when cost is base - ANSWER-Markup = Percent of markup x Cost Formula for cost when selling price is base - ANSWER-Markup = Percent x Selling price then C = S - M Formula for markup when selling price is given - ANSWER-Markup = Selling price x percent Formula for finding markup when cost is given - ANSWER-Cost = Percent x Selling price then M = S -C Formula for converting mark up on cost to markup on selling price - ANSWER-% markup on selling price = % markup on cost / 100% + % markup on cost Formula for converting mark up on selling price to markup on cost - ANSWER-% markup on cost = % markup of selling price / 100% + % percent markup on selling price Formula for selling price of perishables - ANSWER-Cost = Number of items x Price per item then Selling price = Cost / Percent of mark up Formula for reduced price - ANSWER-Reduced price= Original price - Markdown Formula for percent of markdown - ANSWER-Percent of markdown = Markdown / Original price Formula for break-even point - ANSWER-Break-even point = Cost + Operating expenses Formula for operating loss - ANSWER-Operating loss = Break-even point - Reduced selling price

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Business math Ch. 8 Exam Questions
with Correct Answers
Formula for markup - ANSWER-Selling price = Cost + Markup (S=C+M)

Formula for markup on cost - ANSWER-Markup on cost = Amount of markup/ Cost

Formula for selling prices as a percent of cost - ANSWER-Selling price as percent of
cost = Selling price / Cost

Formula for percent of Markup on cost - ANSWER-Selling price percent = 100% +
Markup percent

Formula for cost when cost is base - ANSWER-Markup = Percent of markup x Cost

Formula for cost when selling price is base - ANSWER-Markup = Percent x Selling price
then C = S - M

Formula for markup when selling price is given - ANSWER-Markup = Selling price x
percent

Formula for finding markup when cost is given - ANSWER-Cost = Percent x Selling
price then M = S -C

Formula for converting mark up on cost to markup on selling price - ANSWER-%
markup on selling price = % markup on cost / 100% + % markup on cost

Formula for converting mark up on selling price to markup on cost - ANSWER-%
markup on cost = % markup of selling price / 100% + % percent markup on selling price

Formula for selling price of perishables - ANSWER-Cost = Number of items x Price per
item then Selling price = Cost / Percent of mark up

Formula for reduced price - ANSWER-Reduced price= Original price - Markdown

Formula for percent of markdown - ANSWER-Percent of markdown = Markdown /
Original price

Formula for break-even point - ANSWER-Break-even point = Cost + Operating
expenses

Formula for operating loss - ANSWER-Operating loss = Break-even point - Reduced
selling price

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