Markup & Discount Section 5-7.

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Presentation transcript:

Markup & Discount Section 5-7

Words to know… Markup--increase in a price Store’s Cost --how much the store pays for an item Selling Price --markup + store’s cost

Markup #1 Store’s Cost: $200 Markup Rate: 15% Markup = ? What is the selling price? $200 + $30 = $230

Markup #2 Store’s Cost: $35 Markup Rate: 25% Markup = ? What is the selling price? $35 + $8.75 = $43.75

Cost of clothing Sandy’s Clothing Shop has a 45% markup on dresses. How much will the shop charge for a dress that cost the shop $48? Markup = (48)(0.45) Markup = $21.60 What is the selling price? $48 + $21.60 = $69.60

Words to know… Discount--decrease in a price Sale Price --selling price - discount

Discount #1 Selling Price: $45 Discount Rate: 30% Discount = ? What is the sale price? $45 - $13.50 = $31.50

Discount #2 Selling Price: $300 Discount Rate: 25% Discount = ? What is the sale price? $300 - $75 = $225

Price of speakers The audio store is having a 25% off sale. What will be the sale price on a pair of speakers that normally sell for $280? Discount = (280)(0.25) Discount = $70 What is the sale price? $280 - $70 = $210