Marked price refers to the price at which a seller or producer sells their products. It is the price that is marked on the product before any discounts or negotiations take place. In other words, it is the base price of the product. The marked price is used to calculate the discount offered on the product. The difference between the marked price and the selling price is the discount offered.

For example, if a product is marked at $100 and is sold for $80, then the discount offered is $20. The formula to calculate the discount is Discount = Marked Price – Selling Price.

Marked price is an important concept in profit and loss calculations. It is used to calculate the profit or loss incurred by a seller or producer. The cost price is the price at which the product is purchased, while the selling price is the price at which the product is sold. The profit or loss is calculated based on the difference between the selling price and the cost price.

In summary, marked price is the base price of a product before any discounts or negotiations take place. It is used to calculate the discount offered on the product. The difference between the marked price and the selling price is the discount offered.