Markup and Discount

6.5

markup

Markup = (% of markup) (store’s cost)

Express pays $56 for a jacket. The store’s percent of markup is 75%. Find the markup for the jacket.

• % of mark up: 75%• Store’s cost: $56

0.75 56

$42

Selling Price

Store’s Cost + Markup = Selling Price

A store pays $5 for a baseball cap. The percent of markup is 70%. Find the selling price of the cap.

• Store pays: $5• Percent of markup 70%• Markup= (5)(.70)• Markup is $3.50• Selling price:

store cost + markup$5 + $3.50

$8.50

Discount

(% of discount) (Original Price)

Sales Price

Original - Discount

A pair of shoes that regularly sell for $39.95 is on sale for 20% off. What is the sale price?

Discount(%of discount)(original price)

=(0.20)(39.95)=7.99

Sale price

Original-discount=39.95-7.99=$31.96

Wayne had a 25% discount on hockey equipment. The selling price was $172.50. What was the original price?

• Discount is 25% • Then the selling price is 75% of the original

172.5 75

100x

172.5 100 75r17250 75r$230 r

A CD with an original price of $11.95 is discounted 20%. Sales tax of 5.5% is added to the discounted price. How

much does it cost to purchase the CD?

• Step 1 Find discount(11.95) (.20)

=2.39• Step 2 Subtract Original

from Discount11.95-2.39

=9.56

• Step 3 Find Tax (9.56)(0.055)

= 0.5258=0.53

• Step 4 Add Sales Tax to Discounted Price

9.56+0.53=$10.09

Homework

• Page 278 (10-38) even