Markup and Discount 6.6. markup Markup = (% of markup) (store’s cost)

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Presentation transcript:

Markup and Discount 6.6

markup Markup = (% of markup) (store’s cost)

Express pays $56 for a jacket. The store’s percent of markup is 75%. Find the markup for the jacket. % of mark up: 75% Store’s cost: $56

Selling Price Store’s Cost + Markup = Selling Price

A store pays $5 for a baseball cap. The percent of markup is 70%. Find the selling price of the cap. Store pays: $5 Percent of markup 70% Markup= (5)(.70) Markup is $3.50 Selling price: store cost + markup $5 + $3.50 $8.50

Discount (% of discount) (Original Price)

Sales Price 2 methods Method 1: Original - Discount Method 2: (100-% of discount)(original)

A pair of shoes that regularly sell for $39.95 is on sale for 20% off. What is the sale price? Method 1: Discount (%of discount)(original price) =(0.20)(39.95) =7.99 Sales Price Original-discount = =$31.96 Method 2: Sales Price (100%-% of discount)(Original) =(100%-20%) (39.95) =(80%) (39.95) =(0.80) (39.95) =$31.96

Wayne had a 25% discount on hockey equipment. The selling price was $ What was the original price? Discount is 25% Then the selling price is 75% of the original

A CD with an original price of $11.95 is discounted 20%. Sales tax of 5.5% is added to the discounted price. How much does it cost to purchase the CD? Step 1 Find Selling Price (11.95) (.80) =$9.56 Step 2 Find Tax (9.56)(0.055) = =0.53 Step 3 Add Sales Tax to Discounted Price =$10.09

Homework Page 250 (17-23) all