Question

What does the amount of the
markup or markdown represent in the percent
equation

Answer 1

How much the price increased (Mark up) or decreased (Mark down).

Explanation:

Answer 2

MARKUP IS HOW MUCH TO INCREASE MARKDOWN IS HOW MUCH TO DECREASE PRICES
markup is the amount of increase in a price
Example : the selling price is the original price plus the markup or minus the markdown
markup is a rate where the percent increases in price and markdown (discount rate) is the decrease in price