Markup:
In our daily life, we often borrow money from our friends and relatives to buy a thing that we repay them after a certain period. Some banks and retail organizations also provide the same services and charge an additional amount called markup.
"A markup is an amount added to a cost price to calculate the sale price".
Usually, we calculate the markup as a percentage of the actual amount paid for a thing. This is called the Markup Rate and paid amount itself is called the Principal. Suppose "P" is the principal amount, "T" is the time period and "R" is the markup rate, then the amount of markup will be:
Following are the Real-Life Word Problems on Markup solved in a proper and easy method with verified answers.
Candidates seeking admission to PAF or Military Colleges, Schools Students, OR Job seeking Candidate can prepare themselves for achieving the best score in their entry tests or academic Examination.
Word Problem No. 1:
Aleem bought a television for Rs. 15,000 in installments at the markup rate of 12% per annum. Find the selling price of the television if the time period is 3 years. (Ans. Rs. 20,400)
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Aleem bought a television for Rs. 15,000 in installments at the markup rate of 12% per annum. Find the selling price of the television if the time period is 3 years. (Ans. Rs. 20,400)
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Word Problem No. 2:
The markup on a principal amount is Rs. 820 for 6 months at the rate of 12.5% per annum. Calculate the principal. (Ans. Rs. 13,120 )
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Word Problem No. 3:
Find the markup on a principal amount of Rs.75,500 at the rate of 9% per annum for 4 years. (Ans. Rs. 27,180 )
Word Problem No. 4:
Find the markup on a thing whose price is Rs. 45,000 for 73 days at the rate of 10% per annum. (Ans. Rs. 900 )
Word Problem No. 5:
The price of a bicycle including markup is Rs. 5610. If the markup rate is 5% per annum, find the amount of markup for 146 days. (Ans. Rs. 112.2 )
Word Problem No. 6:
Word Problem No. 7:
Nadeem sold a bicycle for Rs.4,500 with a markup of 25%. Find the cost price of the bicycle. (Ans. Rs. 3,600 )
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Shortcut links for:
1. Real Life Word Problems on Financial Mathematics, Property Tax, General Sale Tax (GST), Zakat, Ushr, Profit and Loss, Markup, Percentage, Proportion.
2. 5th class Notes: English, Social Study (S.St.), General Science (G.Sc.), Urdu (اُردو), Islamiat (اسلامیات), Mathematics
3. 6th class Notes: Mathematics
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