Applications of Discount & Markup Example 1: Sam’s Electronics has a movie camera on sale for $560. The original price was $800. Determine the percent.

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Presentation transcript:

Applications of Discount & Markup Example 1: Sam’s Electronics has a movie camera on sale for $560. The original price was $800. Determine the percent discount this represents. 1) Variable declaration: Let x represent the percent discount

2) Write the equation: Sam’s Electronics has a movie camera on sale for $560. The original price was $800. Determine the percent discount this represents. x = % discount

Sam’s Electronics has a movie camera on sale for $560. The original price was $800. Determine the percent discount this represents. x = % discount 3) Solve the equation:

Sam’s Electronics has a movie camera on sale for $560. The original price was $800. Determine the percent discount this represents. x = % discount 4) Write an answer in words, explaining the meaning in light of the application The discount on the movie camera is 30%.

Example 2: The phone company marked up the cost of basic phone service by 17%. The new charge is $ Determine the original cost before the increase. 1) Variable declaration: Let x represent the original cost. Applications of Discount & Markup

2) Write the equation: The phone company marked up the cost of basic phone service by 17%. The new charge is $ Determine the original cost before the increase. x =original cost

3) Solve the equation: The phone company marked up the cost of basic phone service by 17%. The new charge is $ Determine the original cost before the increase.

4) Write an answer in words, explaining the meaning in light of the application The original cost for the basic phone service was $ x =original cost The phone company marked up the cost of basic phone service by 17%. The new charge is $ Determine the original cost before the increase.