Markup and Discount Notes

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Presentation transcript:

Markup and Discount Notes How much do I have to pay?

Markup Markup is the amount the price is ___________. increased Ex. 1 The markup rate is 20%. The store’s cost is $45. So, find 20% of $45.

Label the “Box” % 100

% Amount Marked up Whole (original cost) 100

% Amount Marked up x 20 Whole (original cost) 45 100

Same units together, cross multiply, and divide 100x = 45(20) 100x = 900 x = 9 The markup is $9.00.

Selling Price The store’s cost plus the markup. Example: The selling price is $45 + $9 = ?

The Selling Price is . . . $ 54

Now try it on your own. Use the problem on the bottom of the page.

Discount Discount is the amount the price is decreased. Ex2: The original cost of a shirt is $32. The store has a 25% off sale. What is the new cost of the shirt? So find 25% off of $32.

Set the proportion up correctly. Amount discounted x 25 % Whole (original cost) 32 100

Same units together, cross multiply, and divide 100x =32(25) 100x = 800 x = 8 The discount is $8.00.

Selling Price The original price minus the discount will give you the selling price. So . . . $32 - $8 = ?

The new selling price is . . . $24.00

Now try it on your own. Use the problem on the bottom of the page.

Now you are ready to solve markup and discount problems. Way to go!