Lesson 5-7 Percent of Change
Definitions • Percent of Change- A ratio of change that compares the change in quantity to the original amount. • Percent of Increase- When the new amount is greater than the original. • Percent of Decrease- When the new amount is less than the original.
Example 1 Percent of Increase CLUBS: The Science Club had 25 members. Now it has 30 members. Find the percent of increase. = 0.2 or 20%
Practice Problem Percent of Increase HOMES: The Nietos bought a house several years ago for $120,000. This year, they sold it for $150,000. Find the percent of increase. = 0.25 or 25%
Example 2 Percent of Change Comic Books: Consuela had 20 comic books. She gave some to her friend. Now she has 13 comic books. Find the percent of change. State whether the percent f change is an increase or a decrease. = 0.35 or 35% Since the new amount is less than the original, it is a percent of decrease.
Practice Problem Percent of Change SCHOOLS: Johnson Middle School had 240 students last year. This year, there are 192 students. Find the percent of change. State whether this percent of change is an increase or a decrease. = 0.2 or 20% Since the new amount is less than the original, it is a percent of decrease.
Definitions • Markup - The increase in price. • Selling Price - Amount a customer pays for a product. • Discount - The amount a regular price is reduced.
Example 3 Find the Selling Price Marketing: Shonny is selling some embroidered jackets on a Web site. She wants to price the jackets 25% over her cost, which is $35. Find the selling price for a jacket. p = 1.25(35) p = 43.75 The selling price of the jacket is $43.75
Practice Problem Find the Selling Price Markup: Shirts bought by a sporting goods store cost them $20 per shirt. They want to mark them up 40 percent. What will be the selling price? p = 1.40(20) p = 28 The selling price of the shirt is $28
Example 4 Find the Sale Price The Sport Chalet is having a sale. Find the sale price of a snowskate that is 35% off the regular price of $95 p = .65(95) p = 61.75 The selling price of the snowskate is $61.75
Practice Problem Find the Sale Price A computer usually sells for $1,200. This week it is on sale for 30% off. What is the sale price? p = .70(1200) p = 840 The selling price of the computer is $840