Bell Work
New Amount - Original Amount
Original A=
mountPercent Change
Movie tickets used to cost $5, now cost $7. Find the percent of change.
A percent of change tells how much a quantity has increased or decreased relative to the original amount.
From 5 to 725 = 0.4
40% decrease
0% change
%
Change decimal to a
%
7 5 2
Markup vs. DiscountMarkup vs. Discount
MarkupMarkupA retail store buys A retail store buys items at items at wholesale wholesale pricesprices. To cover . To cover expenses and make a expenses and make a profit, they sell items profit, they sell items at higher at higher retail pricesretail prices. . The extra amount is The extra amount is called the markupcalled the markup.
DiscountDiscount
When an item is on When an item is on salesale, the store is selling , the store is selling the item for less, so this the item for less, so this is called discount.is called discount.
Percent of Mark-Up
Percent Mark-up Percent ChangeFrom $10 to $25
1510 = 1.50
OriginaMarku
l Amp%=ount
%
% Markup150%
Find the percent of markup for the $10
wholesale shirt the store sells for $25.
Change decimal to a percent
Percent of Discount A $28 book is on sale for $21. Find the % discount.
Percent Discount Percent Change
From $28 to $21
728
= 0.25
OriginDisc
al Aount%=
mount
%
% Discount25%
Change decimal to %
Markup & Discount
Find 20% of $25.99
$25.99 sweater marked up 20%
0.20 $25.99$5.198$5.20 markup
$25.99
+ 5.20$31.19
Find 33% of $31.25
$31.25 toy discounted 33%
0.33 $31.25$10.3125
d$ iscount10.31
$31.25
-10.31
$20.94
Sales tax is calculated by multiplying theretail price of an item by the sales tax ratefor an area. METHOD 1
Example: Shoes $100 Tax Rate 7%
Sales Tax $100 x 0.07 = $7.00
Total Purchase Price $100 + $7.00 = $107
Sales tax is calculated by multiplying theretail price of an item by the sales tax ratefor an area.
Example: Shoes $100 Tax Rate 7%
Add 7% to 100% since that includes the total price and the tax. Find 107% of $100.
Find total $100 x 107% Multiply $100 x 1.07 = $107
Both methods give you the same answer!
METHOD 2
The sales tax in Ohio is 8.5%. Your family isbuying a new car for $20,000. What will be the total cost of the car? METHOD 1
Example: Car $20,000 Tax Rate 8.5%
Sales Tax $20,000 x 0.0085 = $1,700
Total Purchase Price $20,000 + $1700
Add the sales tax to the price of the car.
= $21,700
The sales tax in Ohio is 8.5%. Your family isbuying a new car for $20,000. What will be the total cost of the car? METHOD
2Add 8.5% to 100%
Multiply $20,000 x 1.085
Add 8.5% to 100% since that includes the total price and the car and tax. Find 108.5% of $20,000.
Both methods give you the same answer!
= $21,700
A family purchased a DVD player for $200. The sales tax rate was 7%. What was the total cost of the purchase?
Method 1Add sales tax to the
price:$200 x 7% = tax
$200 x .07 = $14.00 tax
$200 + 14.00 = $214.00
Method 2Multiply the price by 107% since 7% is added to the cost.$200 x 107% = total cost
$200 x 1.07 = $214.00
So, the total cost was $214.00.
Sales Tax
A family purchased a pool table for $825. The sales tax rate was 6%. What was the total cost?
Method 1Add sales tax to the price:$825 x 6% = tax$825 x 0.06 = $49.50$825 + $49.50 = $874.50
Method 2Multiply the price by 106% since 6% is added to the cost.$825 x 106% = total cost$825 x 1.06 = $874.50
So, the total cost of the purchase was $874.50.
You and a friend go to lunch. The check comes to $24.85. Figure out how much you should tip if you want to leave 15%.
Find 15% of 24.85 Change 15% to a decimal= 0.15 x 24.85 = $3.7275
Put your answer in a sentence: The tip that should be left is $3.73