PERCENTAGE INCREASE/DECREASE

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Presentation transcript:

PERCENTAGE INCREASE/DECREASE Finding the New Value Given: Original Value & Percentage Finding the Percentage Given: Original Value & New Value Finding the Original Value Given: New Value & Percentage

A gaming shop pays the wholesaler €40 for a Fifa17 game, then sells it at €75. What is the mark-up rate? Think Pair Share 87.5 %

An item that regularly sells for €425 is marked down to €340 An item that regularly sells for €425 is marked down to €340. What is the discount rate? Think Pair Share 20 %

Consider two methods: Method 1: Use the formula (New Value = Original Value x multiplier) Method 2: Use the percentage change formula

Method 1 New Value = Original Value x multiplier New Value ÷ Original Value = multiplier Write multiplier as a percentage (x 100) Subtract 100

New Value = Original Value x multiplier A gaming shop pays the wholesaler €40 for a Fifa17 game, then sells it at €75. What is the mark-up rate? New Value = Original Value x multiplier New Value ÷ Original Value = multiplier 75 ÷ 40 = 1.875 1.875 x 100 = 187.5% 187.5% - 100% = 87.5%

Method 2 First find the DIFFERENCE: New Value – Original Value (INC) Original Value – New Value (DEC) Then find this change as a PERCENTAGE: 𝑫𝑰𝑭𝑭𝑬𝑹𝑬𝑵𝑪𝑬 𝑶𝒓𝒊𝒈𝒊𝒏𝒂𝒍 𝑽𝒂𝒍𝒖𝒆 ×𝟏𝟎𝟎 You are finding the difference as a percentage of the original value

35 40 ×100=87.5% New Value - Original Value = 75 – 40 = 35 A gaming shop pays the wholesaler €40 for a Fifa17 game, then sells it at €75. What is the mark-up rate? New Value - Original Value = 75 – 40 = 35 This change is always relative to the original value and must be expressed as a percentage 35 40 ×100=87.5%

Method 1 New Value = Original Value x multiplier New Value ÷ Original Value = multiplier Write multiplier as a percentage (x 100) Subtract 100

New Value = Original Value x multiplier An item that regularly sells for €425 is marked down to €340. What is the discount rate? New Value = Original Value x multiplier New Value ÷ Original Value = multiplier 340 ÷ 425 = 0.8 0.8 x 100 = 80% 100% - 80% = 20%

Method 2 First find the DIFFERENCE: New Value – Original Value (INC) Original Value – New Value (DEC) Then find this change as a PERCENTAGE: 𝑫𝑰𝑭𝑭𝑬𝑹𝑬𝑵𝑪𝑬 𝑶𝒓𝒊𝒈𝒊𝒏𝒂𝒍 𝑽𝒂𝒍𝒖𝒆 ×𝟏𝟎𝟎 You are finding the difference as a percentage of the original value

85 425 ×100=20% New Value - Original Value = 425 – 340 = 85 An item that regularly sells for €425 is marked down to €340. What is the discount rate? New Value - Original Value = 425 – 340 = 85 This change is always relative to the original value and must be expressed as a percentage 85 425 ×100=20%

Always CHECK that your answer makes sense !!!

Example: Percentage Increase A house increases in value from €80,000 to €100,000. Calculate the percentage increase Find difference : €100,000 – €80,000 = €20,000 𝟐𝟎𝟎𝟎𝟎 𝟖𝟎𝟎𝟎𝟎 ×𝟏𝟎𝟎= 𝟏𝟎𝟎÷𝟒=𝟐𝟓% 1 4

Example: Percentage Decrease Cara bought a car for €12,000. One year later she sold it for €8,400. Work out her percentage loss Find difference : €12,000 – €8,400 = €3,600 𝟑𝟔𝟎𝟎 𝟏𝟐𝟎𝟎𝟎 ×𝟏𝟎𝟎 =𝟑𝟎% 3 1

Hw Q1 A shop buys Justin Bieber figures in boxes of 50 units. The shop purchases 10 boxes of dolls. The total cost of purchasing the 10 boxes was €6000. Each doll was sold at a price of €15 Q: Find the following: Cost Price of each doll The profit made on each doll. The profit percentage made on each doll.

HW Q2 Newcastle Football Player Demba Ba wears Adidas F50 adiZero Football Boots. The selling price of these football boots is €180. This cost price of these football boots is €150 Questions: Find the percentage profit made on these football boots. Find the percentage profit made if the boots were sold at €165.