Markup – the amount of money a store increases the price of the goods above what they pay for it. Wholesale price – the amount of money a store pays for.

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Presentation transcript:

Markup – the amount of money a store increases the price of the goods above what they pay for it. Wholesale price – the amount of money a store pays for the merchandise they sell. Retail price – the amount of money a store charges for the merchandise they sell. Mark up amount= (original price)(percent) New Price = original price + mark up amount Decimal Format!

A music store’s percent of markup is 67%. A CD costs the store $ Find the markup. Mark up amount = (10.15)(.67) Mark up amount = 6.8 Mark up amount = $6.80 New Price = original price + mark up amount New Price = New Price = $16.95

Retail price – the amount of money a store originally charged for the merchandise they sell (sticker price). Discount – the amount of money a store decreases the price of the goods from the retail price. Sale price – the amount of money a store sells merchandise they have discounted. Discount amount= (original price)(percent) Discount price= original price – discount amount Decimal Format!

Athletic shoes that regularly sell for $85.99 are on sale for 20% off. Find the discount. Discount amount = (85.99)(.2) Discount amount = Discount amount = $17.20 New Price = original price – discount amount New Price = – New Price = $68.79