1 / 16

MJ2

MJ2. Ch 8.5 – Sales Tax & Discount. / / / • • • • • 0 0 0 0 0 1 1 1 1 1 2 2 2 2 2 3 3 3 3 3 4 4 4 4 4 5 5 5 5 5 6 6 6 6 6

jael
Download Presentation

MJ2

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. MJ2 Ch 8.5 – Sales Tax & Discount

  2. / / / • • • • • 0 0 0 0 0 1 1 1 1 1 2 2 2 2 2 3 3 3 3 3 4 4 4 4 4 5 5 5 5 5 6 6 6 6 6 7 7 7 7 7 8 8 8 8 8 9 9 9 9 9 1. A recipe calls for 2 cups of flour to make 24 cookies. How many cups of flour would it take to make 39 cookies? 7 / 4 24 • n = 2 • 39 24 n = 78 Bellwork – You do not have to write the question – Grid your answer

  3. Assignment Review • Practice Skills Workbook Lesson 8.4

  4. Before we begin… • Please take out your notebook and get ready to work… • In the last lesson we looked percent of change…that is the percent of increase or decrease • In today’s lesson we will look at markup, discount and sales tax…discount represents a decrease and markup & sales tax represent increases…

  5. Objective • Students will solve problems involving discount and sales tax.

  6. Markup & Discount • When a store sells an item for more than it paid, the extra money is used to cover expenses and to make a profit. • The increasein price is called markup. The percent of markup is a percent of increase. • The amount the customer pays is called the selling price • When a store has a sale, the amount by which the regular price is reduced is called discount. The percent of discount is a percent of decrease

  7. Calculating Markup & Discount • Markup– to calculate markup, multiply the original price by the percent of increase, and thenaddthat amount to the original price to get the selling price. • Discount – to calculate discount, multiply the original price by the percent of decrease and then subtract that amount from the original price to get the sale price.

  8. Example - Markup • A store is selling a jacket for 25% over cost. The cost is $35. What is the selling price? $35 x 25% = $8.75 $35 + $8.75 = $43.75 Selling Price

  9. Your Turn • In the notes section of your notebook calculate the selling price • Computer: $700 Markup: 30% • CD Player: $120 Markup: 20% • Jeans: $25 Markup: 45%

  10. Example - Discount • A computer sells for $1,200. The store puts the computer on sale for 30% off. What is the sale price? $1200 x 30% = $360 $1200 - $360 = $840 Sale price

  11. Your Turn • In the notes section of your notebook calculate the sale price • Video game: $75 Discount: 25% • Skateboard: $119.95 Discount: 30% • Television: $675.50 Discount 35%

  12. Sales Tax • Sales tax is an additional amount of money charged on items that people buy. The local, state & federal government receives this money. • The total cost of an item is the price plus the sales tax. • NOTE: You do not pay tax on the price of an item before discount. You pay the tax on the discounted amount!

  13. Example – Sales Tax • What is the total cost of a sweatshirt if the original price is $42 and the sales tax is 5½%? • In this instance you calculate the sales tax by multiplying the $42 by 5.5% and then add that amount to the $42 42 ● 5.5% = 2.31 (Tax amount) 42 + 2.31 = $44.31 Total price

  14. Your Turn • In the notes section of your notebook calculate the total price: • $2.95 notebook; 5% tax • $46 shoes; 2.9% tax • $178.90 video game; 3.75% tax

  15. Summary • In the notes section of your notebook summarize the key concepts covered in today’s lesson • Today we discussed • Markup, discount, & sales tax

  16. Assignment • Text p. 356 # 11 - 20 Reminder: • This assignment is due tomorrow • I do not accept late assignments • I do not accept answers only for any assignment (no work = no credit)

More Related