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

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

Bell Work

Discount/Markup Sale Price

$1.20

$4.80

- $6 shirt 20% off_______ _______
- $65 shoes 15% off _______ _______
- $80 tickets 40% markup _______ _______
- $25 passes 130% markup _______ _______
- $4 earrings 5.5% tax _______ _______
- $1,250 car 8.75% tax _______ _______

$9.75

$55.25

$32

$112

$57.50

$32.50

$.22

$4.22

$109.38

$1,59.38

Real World Example % of Number

A $50 skateboard was marked up10%. How much was it marked up and what is the new price?

Mark-up

Retail Price

Retail Price =

Original Price

+

Mark-up

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

Method 2

Multiply the price by 106% since 6% is added to the cost.

$650 x 106% = total cost

$650 x 1.06 = $689.00

Method 1

Add sales tax to the price:

$650 x 6% = tax

$650 x .06 = $39.00 tax

$650 + $39 = $689.00

So, the total cost was $689.00.

Markup

1) A store buys a pair of shoes at a wholesale price of $37.50 and sells them for $50. What is the amount of markup?

2) What is the percent of markup for the pair of shoes in problem 1?

3) Find the cost after markup: $15 movie, 20% markup

$12.50

33.3%

$18.00

Discount

- A $90 coat is on sale for $76.50. What is the amount of discount?
- What is the percent of discount for the coat in problem 1?
- Find the cost after discount: $85 radio, 10% discount.

$13.50

15%

$76.50

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

Method 2

Multiply the price by 80% since that is what you ARE paying.

$25 x 80% = total cost

$25 x .8 = $20.00

Method 1

Subtract the discount from the price:

$25 x 20% = discount

$25 x .2= $5.00 discount

$25 - $5 = $20.00

So, the total cost was $20.00.

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

Method 2

Multiply the price by 85% since that is what you ARE paying.

$120 x 85% = total cost

$120 x .85 = $102.00

Method 1

Subtract the discount from the price:

$120 x 15% = discount

$120 x .15 = $18.00 discount

$120 - $18 = $102.00

So, the total cost was $102.00.

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

Method 2

Multiply the price by 126% since that is what you ARE paying.

$35.50 x 126% = total cost

$35.50 x 1.26= $44.73

Method 1

$35.50 x 20% = $7.10 (tip)

$35.50x 6% = $2.13 (tax)

$35.50 + $7.10 + $2.13 = $44.73

So, the total cost was $44.73.

Your bill is $28.75. What is your total after you leave a 15% tip and pay 5% tax?

Method 2

Multiply the price by 120% since that is what you ARE paying.

$28.75 x 120% = total cost

$28.75 x 1.2= $34.50

Method 1

$28.75 x 15% = $4.31 (tip)

$28.75 x 5% = $1.44 (tax)

$28.75 + $4.31 + $1.44 = $34.50

So, the total cost was $34.50.

When you finish turn your paper over and put it in the corner of your desk. Silent read, work on other homework or practice more problems. No talking.

Practice:

Finish Markup, Discount,

Tax and Tip Packet

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