What type of connection can you make between markups and tips or taxes? What type of connection can you make between markdowns and discounts? Explain your answer.
Answers
Answer:
Markup is how much to increase prices and markdown is how much to decrease prices. To calculate markdown, we find the difference between the beginning price and the decreased price, then we find the percentage by dividing the difference by the beginning price.
Step-by-step explanation:
Sample Response: Tips or taxes add money to a bill. This is the same as a markup. Markdowns are the same as discounts. They take a percentage off a bill.
CORRECT ANSWER
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Given : markups , tips or taxes
markdowns and discounts
To Find : Make connections
Solution:
markups , tips or taxes
markups are the Additional charges on basic price to get Final price
Basic Price + Markup = Final Price
Basic Amount + Tips = Final Amount
Basic Amount + Taxes = Final Amount
Basic Price + Freight = Final Amount to be paid
cost Price + markup = Sell price
Hence Tips and taxes are Markup
markdowns and discounts
markdowns are the waiver / discount on Basic charge to get final price
Marked Price - Discount = Selling Price
Amount - Waiver = final amount
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