1. 3.3 Markup and Markdown

2. Markup - another name for percent increase
To make a profit, stores mark up the prices on items they sell. A sports store buys skateboards from their supplier for $35. They then mark them up 42%. What is the retail price? Vocabulary: Retail price – price sold to public (NEW PRICE) Wholesale price – price purchased from supplier (ORIGINAL PRICE)

3. =
To make a profit, stores mark up the prices on items they sell. A sports store buys skateboards from their supplier for $35. They then mark them up 42%. What is the retail price?
Think of what you know:
42% - that is the percent
$35 – that is the original price
So plug those numbers in. That means you’re going to find the amount that the price will be changed.

4. = =
To make a profit, stores mark up the prices on items they sell. A sports store buys skateboards from their supplier for $35. They then mark them up 42%. What is the retail price?
Think of what you know:
42% - that is the percent
$35 – that is the original price
So plug those numbers in. That means you’re going to find the amount that the price will be changed.

5. = =
To make a profit, stores mark up the prices on items they sell. A sports store buys skateboards from their supplier for $35. They then mark them up 42%. What is the retail price?
Cross multiply 100x = (35)(42) x = (because we’re dealing with money I put the 0 in the hundredths place)

6. = =
To make a profit, stores mark up the prices on items they sell. A sports store buys skateboards from their supplier for $35. They then mark them up 42%. What is the retail price?
x = Is this your answer?
No – because they ask the retail price – new price. You have the markup (change). So if it was $35 and you marked up $14.70 – the retail price would be $49.70

7. An example of a price decrease would be a markdown
A discount store marks down all of its holiday merchandise by 20% off the regular selling price. Find the discounted price of decorations that regularly sell for $16. =
What do you know?
20% = percent
$16 = original price

8. An example of a price decrease would be a markdown
A discount store marks down all of its holiday merchandise by 20% off the regular selling price. Find the discounted price of decorations that regularly sell for $16. =
100x = (20)(16) x = $3.20
Final Price = 16 – 3.20 = $12.70

9. Original Price: $45.00 Markdown 22%
Find the amount that the item is marked down.
Find the Retail price (price with the markdown amount)

10. Original Price: $24.00 Markup 44%
Find the amount that the item is marked up.
Find the Retail price (price with the markup amount)

11. My new cell phone cost $190.00, but when I signed a 2 year plan I got 20% off. How much did it cost?

12. Notebooks

13. Original Price: $89.00 Markdown 33%
Find the amount that the item is marked down.
Find the Retail price (price with the markdown amount)

14. Original Price: $150.00 Markup 120%
Find the amount that the item is marked up.
Find the Retail price (price with the markup amount)

15. Drew bought a chemistry book for $30
Drew bought a chemistry book for $30. Later that book was marked down by 20%. By how much has the value been decreased?
The question asks: How much has the value decreased?
Is this the NEW PRICE? Or the CHANGE IN PRICE?

16. Drew bought a chemistry book for $30
Drew bought a chemistry book for $30. Later that book was marked down by 20%. What was the cost of the book with the discount?

17. The Game Stop purchased a game for $30
The Game Stop purchased a game for $30. If they mark up the price 45%, what would be the retail price?