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    2 Percents-Markup and Discount

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    Somar D

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    2 Percents-Markup and Discount

    Uploaded by

    Somar D
    7 views13 pages

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    Copyright:

    © All Rights Reserved
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    Download as ppt, pdf, or txt
    7 views13 pages

    2 Percents-Markup and Discount

    Uploaded by

    Somar D

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    of 13

    Markup and Discount

    NS 1.4 Calculate given


    percentages of quantities and
    solve problems involving
    discounts at sales, interest
    earned, and tips.

    Objective:-Students will calculate


    give percentages and find
    discounts, markups, tips, and sales
    tax by scoring an 80% proficiency
    on a quiz.
    Terminology
    Cost - The price retailers Selling Price - The price
    pay to a manufacturer retailers charge customers

    Markup, margin, or gross Operating expenses or


    profit - The difference between overhead - The regular
    the cost of bringing the goods expenses of doing business
    into the store and the selling such as rent, wages,
    price
    utilities, etc.

    Net profit or net income - The profit remaining after


    subtracting the cost of bringing the goods into the
    store and the operating expenses
    Copy these Steps:

    Finding Discounts Finding Markups

    Step 1: Find the amount Step 1: Find the amount


    of the discount (the percent) of the markup (the percent)
    Step 2:Turn the percent Step 2: Turn the percent
    into a decimal and Multiply into a decimal and Multiply
    it by the original price it by the original price
    Step 3: Subtract the Step 3: Add the markup
    discount amount to the amount to the original price.
    original price.
    Markup and Discount
     Markup and Discount are like tax,
    commission, and tip questions.

     You can…
    1) Change the percent to a decimal and
    multiply.
    2) Write an equation to find the missing
    percent.
    3) Write a proportion like percent problems
    Basic Selling Price Formula

    Selling price (S) = Cost (C) + Markup (M)

    $1,200 $900 - Price


    Computer paid to bring $300 -
    computer Dollars to
    into store cover
    expenses and
    profit
    Markup vs. Discount
     Markup  Discount
    A retail store buys When an item is on
    items at wholesale sale, the store is
    prices. To cover selling the item for
    expenses and make a
    profit, the sells items less, so this is called
    at higher retail discount.
    prices. The extra
    amount is called the
    markup.
    markup
    Discount
    Ex1: You buy a pair of jeans that is 30% off the
    original price of $29. What is the sale price of an item?

     Find the amount of


    the discount:

    30% of $29

    0.3 x 29

    8.7
    Subtract the discount from the original price
    29- 8.70 = $20.30
    Markup

    Ex: 2 A store that sells skateboards buys them from


    a manufacturer at a wholesale price of $57. The store’s
    markup is 150% . What is the retail price?

     Find the amount of


    the markup( Percent)
    and turn into decimal.
    Markup = 150% of $57

    1.50 x 57
    85.50 Add the markup amount to the original price

    57.00 + 85.50= $142.50


    Markup
    Ex: 3
     Finding the amount of  Finding the
    markup.
    percent of
     A store buys a shirt at markup.
    a wholesale price of
    $13.50 and sells the  What is the
    shirt for $24.95. How percent of markup
    much was it marked for the shirt in the
    up? first problem?

    $24.95- $13.50= $11.45 is what percent of $13.50?

    $11.45 84.8% or 85%


    Markup
    1) A store buys a pair of shoes at a wholesale
    price of $37.50 and sells them for $50.
    What is the amount of markup?

    2) What is the percent of markup for the pair


    of shoes in problem 1?

    3) Find the cost after markup: $15 movie,


    20% markup
    Discount

     Find the amount of  Find the percent of


    discount discount
     A $36 book is on sale  What is the percent
    for $27. What is the of discount for the
    amount of discount? book in the problem
    before?
    $9.00 25%
    Discount
    1) A $90 coat is on sale for $76.50. What is the
    amount of discount?

    2) What is the percent of discount for the coat


    in problem 1?

    3) Find the cost after discount: $85 radio,


    10% discount.
    Shopping Activity
     It is time to shop!

     You have $1000 dollars to


    spend, no more!

     You need to shop at least


    at 6 stores, where you can
    buy at least one item. Be
    sure to have at least 2
    markups and 2 discounts.
     Find the cost after the
    markup or discount.

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