DO NOW Define: Markup: An increase from the wholesale price of an item to the retail price. Discount: A decrease from the original price of an item to.

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DO NOW Define: Markup: An increase from the wholesale price of an item to the retail price. Discount: A decrease from the original price of an item to the sale price is a discount.

7.6 PERCENT APPLICATIONS Objective: Find markups, discounts, sales tax, and tips. Homework: Page 376 #’s: 8-13 all

FINDING A RETAIL PRICE A street vendor buys bracelets from a manufacturer for $7 each. The vendor marks up the price by 150%. Find the retail price of the bracelet. One Way to Solve: 7 * 150% 7 * 1.5 = = 17.5 Another Way to Solve: 7 * 250% 7 * 2.5 = 17.5 * When something is marked up, add 100 to the given % before multiplying. This will tell you the final price.

TRY IT OUT! A street vendor buys bracelets from a manufacturer for $4 each. What is the retail price of a bracelet if the markup percent is 120%?

FINDING A SALE PRICE You buy an electronic organizer that is on sale for 15% off the original price of $25. What is the sale price? One Way to Solve: 25 * 15% 25 *.15 = – 3.75 = $21.25 Another Way to Solve: 25 * 85% 25 *.85 = $21.25 * When something is marked down, subtract the given % from 100 before multiplying. This will tell you the final price.

TRY IT OUT! A pair of jeans that originally costs $42 is 25% off. Find the sale price. INDEPENDENT PRACTICE Page 375 #’s: 3-7 CLOSURE Name one thing you learned today.