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The Real Cost

When saving for a big purchase, it's essential to factor in sales tax and calculate markdowns effectively. This lesson highlights how to determine the dollar amount of a markdown and the corresponding markdown rate. Through practical examples, such as buying a camcorder and oak furniture, we illustrate how to find markdowns based on regular selling prices and sale prices. Additionally, practice problems help reinforce these concepts by requiring calculations of markdowns for different items. Mastering these skills will aid in making informed purchasing decisions.

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The Real Cost

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  1. The Real Cost When you save to make a big purchase, be sure to consider the sales tax you will have to pay. Have you ever paid sales tax?

  2. Lesson Objective Find the dollar amount of the markdown. Content Vocabulary markdown The difference between the regular selling price of an item and its sale price, also known as a discount. markdown rate The markdown expressed as a percent of the regular selling price of the item. • markdown • markdown rate

  3. Example 1 Nora Maag purchased a camcorder at a sale price of $499.99. The regular selling price is $549.99. What was the markdown?

  4. Example 1 Answer Step: Find the markdown. Regular Selling Price – Sale Price $549.99 – $499.99 = $50.00

  5. Example 2 Furniture World has a special on oak furniture at 40 percent to 55 percent off the regular selling price. Chad Wolfrum purchased an oak table at 40 percent off the regular price of $799. How much is the markdown?

  6. Example 2 Answer Step: Find the markdown. Regular Selling Price ×Markdown Rate $799.99 ×40% = $319.60

  7. Practice 1 A store sells an industrial vacuum cleaner for $36.29. It is on sale this week for $32.99. What is the markdown?

  8. Practice 1 Answer $3.30

  9. Practice 2 A neighborhood gas station is running a special on windshield cleaning fluid. A gallon container that usually sells for $1.96 is on sale for 25 percent off. What is the markdown?

  10. Practice 2 Answer $0.49

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