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DO NOWDefine:
Markup:
An increase from the wholesale price of an item to the retail price.
Discount:
A decrease from the original price of an item to the sale price is a discount.
7.6 PERCENT APPLICATIONS
Objective:Find markups, discounts, sales tax, and tips.
Homework:Page 376 #’s: 8-13 all
FINDING A RETAIL PRICE
A street vendor buys bracelets from a manufacturer for $7 each. The vendor marks up the price by 150%.
Find the retail price of the bracelet.
One Way to Solve:
7 * 150%
7 * 1.5 = 10.5
10.5 + 7 = 17.5
Another Way to Solve:
7 * 250%
7 * 2.5 = 17.5
* When something is marked up, add 100 to the given % before multiplying. This will tell you the final price.
TRY IT OUT!
A street vendor buys bracelets from a manufacturer for $4 each. What is the retail price of a bracelet if the markup percent is 120%?
FINDING A SALE PRICEYou buy an electronic organizer that is on sale for 15% off the original price of $25. What is the sale price?
One Way to Solve:
25 * 15%
25 * .15 = 3.75
25 – 3.75 = $21.25
Another Way to Solve:
25 * 85%
25 * .85 = $21.25
* When something is marked down, subtract the given % from 100 before multiplying. This will tell you the final price.
TRY IT OUT!A pair of jeans that originally costs $42
is 25% off. Find the sale price.
INDEPENDENT PRACTICEPage 375 #’s: 3-7
CLOSUREName one thing you learned today.