Find the discount/markup first then find the & new price.

1) $6 shirt 20% off _______ _______

2) $65 shoes 15% off _______ _______

3) $80 tickets 40% markup _______ _______

4) $25 passes 130% markup _______ _______

5) $4 earrings 5.5% tax _______ _______

6) $1,250 car 8.75% tax _______ _______

Discount/Markup New Price$1.20 $4.80

$9.75 $55.25

$32 $112

$32.50 $57.50

$.22 $4.22

$109.38 $1,359.38

TAKE OUT A CALCULATOR

Discounts, MarkupsTax and

TipDay 3

A $50 skateboard was marked up 10%. How much was it marked up and what is the new price?

Mark-up Retail Price10% of $500.10 $50

$5

+ $ 5

$55

Real World Example % of Number

Original Price+Mark-upRetail Price =

$50

A family purchased a TV for $650. The sales tax rate was 6%. What was the total cost of the purchase?

Method 1Add sales tax to the

price:$650 x 6% = tax$650 x .06 = $39.00 tax$650 + $39 = $689.00

Method 2Multiply the price by 106% since 6% is added to the cost.$650 x 106% = total cost$650 x 1.06 = $689.00

So, the total cost was $689.00.

Sales Tax

A shirt that was $25 is on sale for 20% off. What is the sale price?

Method 1Subtract the discount

from the price:$25 x 20% = discount$25 x .2 = $5.00

discount$25 - $5 = $20.00

Method 2Multiply the price by 80% since that is what you ARE paying.$25 x 80% = total cost$25 x .8 = $20.00

So, the total cost was $20.00.

Discount

A radio that was $120 is on sale for 15% off. What is the sale price?

Method 1Subtract the discount

from the price:$120 x 15% = discount$120 x .15 = $18.00 discount

$120 - $18 = $102.00

Method 2Multiply the price by 85% since that is what you ARE paying.$120 x 85% = total cost$120 x .85 = $102.00

So, the total cost was $102.00.

You Try!

Your bill is $35.50. What is your total after you leave a 20% tip and pay 6% tax?

Method 1$35.50 x 20% = $7.10

(tip)$35.50 x 6% = $2.13 (tax)$35.50 + $7.10 + $2.13 =

$44.73

Method 2Multiply the price by 126% since that is what you ARE paying.$35.50 x 126% = total cost$35.50 x 1.26 = $44.73

So, the total cost was $44.73.

Tax and Tip!

Skills Check!When you finish turn your paper over and

put it in the corner of your desk. Practice:Finish Checkbook Challengeand work on story problems