MARKUP. The difference in the amount that a store charges compared to what the store paid How much a store raises the price to make a profit. Markup =

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Presentation transcript:

MARKUP

The difference in the amount that a store charges compared to what the store paid How much a store raises the price to make a profit. Markup = (Percent markup) X (Store’s price)

FINDING THE MARKUP A store pays $56 for a jacket. The store’s markup is 89%. What was the markup for the jacket?

A store has a markup of 220%. Find the markup in items that cost the store: $12 $51 $5 $150

A store has a markup of 220%. Find the markup in items that cost the store: $12 $51 $5 $150

A store has a markup of 220%. Find the markup in items that cost the store: $12 $51 $5 $150

A store has a markup of 220%. Find the markup in items that cost the store: $12 $51 $5 $150

A store has a markup of 220%. Find the markup in items that cost the store: $12 $51 $5 $150

FINDING THE SELLING PRICE Selling price – store’s cost PLUS the markup 2 Methods: A. Find the markup B. Add the store’s cost and the markup. Or A. Add the percent markup to 100% B. Then multiply the store’s cost by that percent

EXAMPLE 1 A store pays $11 for an item. It is then marked up 80%. What is the selling price?

EXAMPLE 2 A t-shirt is bought by a company for $5. It is then sold at a concert after a markup of 600%. What was the selling price of the t-shirt?

ASSIGNMENT 6-9A: 1 – 10, 18, 19