Discounts, markups and percent of change

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Discounts, markups and percent of change Friday, January 4, 2013

Warm up: Solve and graph the operation on a number line: 1. -5 - (-3) = 2. -8 + 7 = 3. 6 - (-5) = Solve: 4. Find the average of the following numbers: -2, 12, -8, 15

Check homework Post answers to the word problems at the end of the Wikispace homework. Take the time to go over the problems.

Let’s check our work:

Let’s check our work:

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Quick Study! Percent of change How can you use %/100 = part/whole to find the following percent increases and decreases? 1. From 100 to 114 2. From 2.0 to 3.2 3. From 202 to 192 4. From 854.5 to 60.6

Discounts & Markups What is a discount? A discount is the price decrease when a item goes on sale. Sale price = regular price – discount What is a markup? A markup is the amount more that they charge for an item than what they bought it for. It is how they make a profit.

Example 1- Discounts Athletic shoes that regularly sell for $85.99 are on sale for 20% off. 1.Set up a proportion to help you find the discount amount. Find that amount. 2.Find the sale price and be prepared to explain how you found the sale price.

Example 2- Discounts A video game that regularly sells for $39.95 is on sale for 20% off. Find the discount amount and the sale price.

Example 3: Discounts Peaches that are usually priced at $2/lb are on sale for 15% off. Find the discount amount and the sale price.

Example 1: markups A music store’s percent of markup is 67%. A CD costs the store $10.15. Find the markup and how much the will charge the customer for the CD.

Example 2: markups A computer store pays $6 for a computer mouse. The percent of markup is 75%. Find the markup amount and what the store will selling price of the mouse.

Example 3: markups A cap that cost a retailer $5 was marked up by 75%. Find the selling price as well as the markup amount.

Homework MA7+: Textbook pages 331 – 332 #1-28, evens and #29-31, all MA7: Textbook pages 326 #7-16 (all)