Bell Work Discount/Markup Sale Price $6 shirt 20% off _ _

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Presentation transcript:

Bell Work Discount/Markup Sale Price $6 shirt 20% off _______ _______ Find the discount/markup first then find the & new price. Bell Work Discount/Markup Sale Price $1.20 $4.80 $6 shirt 20% off _______ _______ $65 shoes 15% off _______ _______ $80 tickets 40% markup _______ _______ $25 passes 130% markup _______ _______ $4 earrings 5.5% tax _______ _______ $1,250 car 8.75% tax _______ _______ $9.75 $55.25 $32 $112 $57.50 $32.50 $.22 $4.22 $109.38 $1,59.38

Discounts, Markups Tax and Tip Day 2 TAKE OUT A CALCULATOR

Real World Example % of Number A $50 skateboard was marked up 10%. How much was it marked up and what is the new price? Mark-up Retail Price Retail Price = Original Price + Mark-up

Sales Tax A family purchased a TV for $650. The sales tax rate was 6%. What was the total cost of the purchase? Method 2 Multiply the price by 106% since 6% is added to the cost. $650 x 106% = total cost $650 x 1.06 = $689.00 Method 1 Add sales tax to the price: $650 x 6% = tax $650 x .06 = $39.00 tax $650 + $39 = $689.00 So, the total cost was $689.00.

Markup 1) A store buys a pair of shoes at a wholesale price of $37.50 and sells them for $50. What is the amount of markup? 2) What is the percent of markup for the pair of shoes in problem 1? 3) Find the cost after markup: $15 movie, 20% markup $12.50 33.3% $18.00

Discount A $90 coat is on sale for $76.50. What is the amount of discount? What is the percent of discount for the coat in problem 1? Find the cost after discount: $85 radio, 10% discount. $13.50 15% $76.50

Discount A shirt that was $25 is on sale for 20% off. What is the sale price? Method 2 Multiply the price by 80% since that is what you ARE paying. $25 x 80% = total cost $25 x .8 = $20.00 Method 1 Subtract the discount from the price: $25 x 20% = discount $25 x .2 = $5.00 discount $25 - $5 = $20.00 So, the total cost was $20.00.

You Try! A radio that was $120 is on sale for 15% off. What is the sale price? Method 2 Multiply the price by 85% since that is what you ARE paying. $120 x 85% = total cost $120 x .85 = $102.00 Method 1 Subtract the discount from the price: $120 x 15% = discount $120 x .15 = $18.00 discount $120 - $18 = $102.00 So, the total cost was $102.00.

Tax and Tip! Your bill is $35.50. What is your total after you leave a 20% tip and pay 6% tax? Method 2 Multiply the price by 126% since that is what you ARE paying. $35.50 x 126% = total cost $35.50 x 1.26 = $44.73 Method 1 $35.50 x 20% = $7.10 (tip) $35.50 x 6% = $2.13 (tax) $35.50 + $7.10 + $2.13 = $44.73 So, the total cost was $44.73.

You try! Your bill is $28.75. What is your total after you leave a 15% tip and pay 5% tax? Method 2 Multiply the price by 120% since that is what you ARE paying. $28.75 x 120% = total cost $28.75 x 1.2 = $34.50 Method 1 $28.75 x 15% = $4.31 (tip) $28.75 x 5% = $1.44 (tax) $28.75 + $4.31 + $1.44 = $34.50 So, the total cost was $34.50.

Skills Check! When you finish turn your paper over and put it in the corner of your desk. Silent read, work on other homework or practice more problems. No talking. Practice: Finish Markup, Discount, Tax and Tip Packet