Discount and MarkupDiscount and MarkupSWBAT find the amount of discount; SWBAT find the amount of discount; find the sale price; find the discount find the sale price; find the discount rate; find the amount of markup; find rate; find the amount of markup; find

the markup ratethe markup rate

DefinitionsDefinitions

Discount Discount The amount by which the regular price is reduced The amount by which the regular price is reduced

Discount rate Discount rate The percent decrease in the list price The percent decrease in the list price

List price List price Regular price of an item Regular price of an item

Sale price Sale price The difference between an items list price and the The difference between an items list price and the

amount of the discount amount of the discount

DefinitionsDefinitions

Wholesale price Wholesale price The price a store pays for an itemThe price a store pays for an item

Markup Markup The difference between the wholesale price The difference between the wholesale price

and the list price and the list price

Markup rate Markup rate The percent increase in the wholesale priceThe percent increase in the wholesale price

Think Think

The 7th grade class wants to purchase a The 7th grade class wants to purchase a ping pong table for the school. A store ping pong table for the school. A store sells them for $188 each. This week they sells them for $188 each. This week they are on sale for a 25% discount. How are on sale for a 25% discount. How much would it cost the class to purchase much would it cost the class to purchase one?one?

ExamplesExamples

The list price for a racquetball racket is The list price for a racquetball racket is $39. Now they are on sale for $31.20. $39. Now they are on sale for $31.20. What is the discount rate of the racket?What is the discount rate of the racket?

A store buys old umbrellas for $40 each A store buys old umbrellas for $40 each and sells them for $56. What is the and sells them for $56. What is the markup rate?markup rate?

ExamplesExamples

15% discount rate on a $400 stereo 15% discount rate on a $400 stereo system.system.

A $45 headset at a 25% discount rateA $45 headset at a 25% discount rate

20% discount rate on a $6800 used car20% discount rate on a $6800 used car

A $3000 motorcycle on sale for $2400A $3000 motorcycle on sale for $2400

A $63 phone on sale for $58.88A $63 phone on sale for $58.88

A $300 digital camera on sale for $250A $300 digital camera on sale for $250

ExamplesExamples

A CD bought for $24 and sold for $25.80A CD bought for $24 and sold for $25.80

Wholesale price: $48 List price: $58.56Wholesale price: $48 List price: $58.56

Try TheseTry TheseWhat is the sale price of a $250 DVD player with a 30% What is the sale price of a $250 DVD player with a 30% discount?discount?

x/250 = 30/100x/250 = 30/100 100x = 7500100x = 7500 X = $75X = $75 Sale price: $250 - $75 = $175Sale price: $250 - $75 = $175

What is the discount rate of an $850 computer on sale What is the discount rate of an $850 computer on sale for $650?for $650?

200/850 = x/100200/850 = x/100 20000 = 850x20000 = 850x X = 23.5%X = 23.5%

Find the markup: Wholesale price: $20 List price: $28Find the markup: Wholesale price: $20 List price: $28 8/20 = x/1008/20 = x/100 800 = 20x800 = 20x X = 40%X = 40%