Percent Discount and Markup

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Presentation transcript:

Percent Discount and Markup Essential Skill: Demonstrate Understanding of Concept Markup and discount is an application of percent change discount- the amount of decrease from the original price to the sale price sale price - the original price minus the discount markup- the amount of increase from the original price to the retail price retail price - the price sold to the customer in the stores (price after the markup) whole sale price - the price the stores purchase the items from the manufacturers (price before the mark up)

1. ) The regular price of an iPhone is $220. 00 1.) The regular price of an iPhone is $220.00. This  week it is on sale for 10% off. What is the  discount? What is the sale price? 2.) Eric's Winter Wonder Store buys snow globes  from the manufacturer for $9.20 each and sells them  at a 90% increase in price. What is the markup?  What is the retail price of the snow globes?

3. ) The regular price of a pair of sneakers was $80. 00 3.) The regular price of a pair of sneakers was  $80.00. They were on sale for 20% off the original  price and then an additional 25% off. How much is  the sale price? Extra challenge 4.) A furniture store marks up the wholesale price of a lamp by  80%. The retail price is $36. What is the whole sale price?

Tax and Tip Sales tax - in many states you are charged tax on items you purchase, in Pennsylvania we are charged 6% sales tax To calculate tax convert the percent to a  decimal and multiply 5.)  Sienna purchased a new lamp for $72. If 6% sales  tax is added , how much will she pay for the lamp and  sales tax in total?

Tip: When a server waits on you at a restaurant,  you leave money as a tip for the server. 6.) Brian and Joey ate dinner at Bahamas Breeze. The  bill came to $85.70. They leave 20% for the tip. Round the tip to the nearest dollar. How much money did they spend on dinner and tip?

Demonstrate Understanding: 1.) Tyler and Casey had dinner at Christopher’s and the bill came to  $56. How much will the total bill cost with tax included, if 6% sales  tax is added? 2.) The DQ-Mart buys sweatshirts for $38 each and  sells them at a 60% increase in price. What is the  amount of increase? What is the retail price? 3.) A sweater is on sale for $42. What was the original price  if the sweater was 30% off?