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Markup and Discount

Markup and Discount

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Markup and Discount

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  1. Markup and Discount PRE-ALGEBRA LESSON 6-9 (For help, go to Lesson 6-7.) Write an equation and solve. Round to hundredths as needed. 1. What is 75% of $82? 2. What is 42% of $170? 3. What is 5.5% of $24? 4. What is 80% of $15.99? Check Skills You’ll Need 6-9

  2. Markup and Discount PRE-ALGEBRA LESSON 6-9 Solutions 1. What is 75% of $82? 2. What is 42% of $170? n = 0.75 • 82 n = 0.42 • 170 n = 61.5 n = 71.4 75% of $82 is $61.50. 42% of $170 is $71.40. 3. What is 5.5% of $24? 4. What is 80% of $15.99? n = 0.055 • 24 n = 0.80 • 15.99 n = 1.32 n = 12.79 5.5% of $24 is $1.32. 80% of $15.99 is $12.79. 6-9

  3. Markup and Discount PRE-ALGEBRA LESSON 6-9 Vocabulary _________ is the amount of increase in price. Percent of Increase is _______________________ _________________________________________ _____________ is the amount of price decrease. Percent of discount is ________________________ _________________________________________ 6-9

  4. Markup and Discount PRE-ALGEBRA LESSON 6-9 A grocery store has a 20% markup on a can of soup. The can of soup costs the store $1.25. Find the markup. markup = percent of markup • store’s cost = 0.2 • 1.25 = 0.25        Simplify. The markup is $.25. Quick Check 6-9

  5. Markup and Discount PRE-ALGEBRA LESSON 6-9 A bookstore pays $4.60 for a novel. The percent of markup is 45%. Find the novel’s selling price. 0.45 • 4.60 = 2.07 Multiply to find the markup. 4.60 + 2.07 = 6.53   Store’s cost + markup = selling price. The selling price is $6.67. Quick Check 6-9

  6. Markup and Discount PRE-ALGEBRA LESSON 6-9 A camera that regularly sells for $210 is on sale for 30% off. Find the discount. discount = percent of discount • regular price = 0.30 • 210 = 63 The discount is $63. Quick Check 6-9

  7. Markup and Discount PRE-ALGEBRA LESSON 6-9 Solve. 1. The school store has a 65% markup on each stapler. Each stapler costs the store $2.10. Find the markup. 2. A clothes store pays $40 for a skirt. The percent of markup is 25%. Find the skirt’s selling price. 3. A pair of shoes that regularly sells for $94.99 is on sale for 30% off. What is the sale price? $1.37 $50 $66.49 6-9