Unit 6. Day 15.

Markup $200 markup 50% markup $400 $600 wholesale Selling price

$400 $600 wholesale Selling price cost Retail Original price

What is the “new” percent? Example A: The wholesale price on a math book is $40. The retail price at Target is $64. Find the markup. 64 retail new 𝑥 100 retail = 24 markup 𝑥 100 markup 40 wholesale original wholesale = 40 wholesale wholesale 40𝑥 = 6400 40𝑥 = 2400 40 40 40 40 𝑥 = 160 What is the “new” percent? 𝑥 = 60 60 100% 60% wholesale markup 60% 𝑚𝑎𝑟𝑘𝑢𝑝

What is the “new” percent? Example B: The wholesale price on a nice fountain pen is $145. If jetpens.com sells the pen at a 36% markup, what is the retail price? 𝑥 markup 36 100 markup 𝑥 retail new 136 100 retail = = 145 145 wholesale wholesale wholesale original wholesale 5220 = 19720 = 100𝑥 100𝑥 100 100 100 100 𝑥 = 52.20 𝑥 = What is the “new” percent? 197.20 145 + 52.20 197.20

What is the “new” percent? Example C: The retail price on a pair of jeans is $48. If the store uses a markup of 50% , what is wholesale? What is the “new” percent? markup 50 100 48 markup = wholesale wholesale retail new 150 100 48 retail = 𝑥 wholesale original wholesale 150𝑥 = 4800 150 150 𝑥 = 32

We’ve done these $400 50% markup $600 sale discount markdown $500 Wholesale Retail $400 50% markup $600 sale discount markdown We’ve done these $500

Let’s try something a little harder!

Example D: The wholesale price on a bicycle is $450 Example D: The wholesale price on a bicycle is $450. The bike shop uses a 50% markup for the retail price. The bike is not selling well, so two months later they offer a 20% discount. Mr. Jordan buys this bike on sale, but must pay 7% sales tax. What is the final/total cost for this bicycle? 𝑥 𝑥 50 100 markup 𝑥 20 100 tax discount 7 100 markup discount = = = 450 wholesale 675 bike bike 540 wholesale bike 100𝑥 = 22500 13500 = 100𝑥 3780 = 100𝑥 100 100 100 100 100 100 𝑥 = 225 135 = 𝑥 37.80 = 𝑥 $ 4 5 0 $ 6 7 5 $ 5 4 0 + $ 2 2 5 − $ 1 3 5 + $ 3 7 .80 $ 6 7 5 $ 5 4 0 $ 5 7 7 . 80