BUSINESS MATHEMATICS Q1 Flashcards
formula of cost
C= SP - M^
relationship of two ratios
proportion
when there’s a discount
markup cancellation
it is the ratio of two numbers
fraction
when markup and cost is missing
SP x M^sp
markup rate based on cost formula
M^c= M^ / C x 100%
it’s the money you saved
discount
formula of list price
L= A / D
formula of discount
A= L x D
total value or amount
base
a relationship of numbers or degree between two similar components
ratio
formula of markup
M^= SP - C
it’s the SRP
list price
formula of rate
R= P / B x 100%
formula of net invoice price
NIP= L - A
markup rate based on selling price formula
M^sp= M^ / SP x 100%
it is a type of fraction when numerator is greater than or equal to denominator
improper fraction
formula of trade discount
D= A / L x 100%
formula of base
B= P / R
also part of a base but in pecent(%) symbol
rate
new price
selling price
it is a type of fraction when numerator is less than the denominator
proper fraction
when there’s a higher demand
markon
meaning of NPF
net price factor
portion or part of a base
percentage
formula of net price factor
NPF= 100% - D
meaning of NIP
net invoice price
type of fraction that consist of whole number and proper fraction
mixed fraction
formula of selling price
SP= C + M^
original price
cost
expenses and profit
markup
a horizontal line drawn over a group of terms in a mathematical expression to indicate that they are to be operated on as a single entity by the preceding or following operator.
vinculum
also known as margin
markup rate based on selling price
it’s the %
trade discount
formula of percentage
P= R x B
meaning of VAT
value added tax
