percent discount and markup markup and discount is an application of percent change essential skill:...
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Percent Discount and Markup
Markup and discount is an application of percent change
Essential Skill: Demonstrate Understanding of Concept
discount- the amount of decrease from the original price to the sale price
sale price - the original price minus the discount
markup- the amount of increase from the original price to the retail price
retail price - the price sold to the customer in the stores (price after the markup)
whole sale price - the price the stores purchase the items from the manufacturers (price before the mark up)
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1.) The regular price of an iPhone is $220.00. This week it is on sale for 10% off. What is the discount? What is the sale price?
2.) Eric's Winter Wonder Store buys snow globes from the manufacturer for $9.20 each and sells them at a 90% increase in price. What is the markup? What is the retail price of the snow globes?
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3.) The regular price of a pair of sneakers was $80.00. They were on sale for 20% off the original price and then an additional 25% off. How much is the sale price?
Extra challenge
4.) A furniture store marks up the wholesale price of a lamp by 80%. The retail price is $36. What is the whole sale price?
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Tax and Tip
Sales tax - in many states you are charged tax on items you purchase, in Pennsylvania we are charged 6% sales tax
To calculate tax convert the percent to a decimal and multiply
5.) Sienna purchased a new lamp for $72. If 6% sales tax is added , how much will she pay for the lamp and sales tax in total?
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Tip: When a server waits on you at a restaurant, you leave money as a tip for the server.
6.) Brian and Joey ate dinner at Bahamas Breeze. The bill came to $85.70. They leave 20% for the tip. Round the tip to the nearest dollar. How much money did they spend on dinner and tip?
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1.) Tyler and Casey had dinner at Christopher’s and the bill came to $56. How much will the total bill cost with tax included, if 6% sales tax is added?
Demonstrate Understanding:
2.) The DQ-Mart buys sweatshirts for $38 each and sells them at a 60% increase in price. What is the amount of increase? What is the retail price?
3.) A sweater is on sale for $42. What was the original price if the sweater was 30% off?