Markups and Discounts with Percents

Finding Simpler Ways

• You should have noticed by now that you can easily find the percent of a number using multiplication

Part = (percent)whole

For example 30% of 60 can be found by calculating (.3)60 = 18

Using the Strategy to Make Calculations More Efficient

• You can use this for discounts and markups if the original price is known– Example: an item that normally cost $400 is on

sale for 20% off.

• Because the item is 20% off, you are only paying for 80% of the item. A simple way to get the sale price is to multiply $400 by 80% or 0.8 (100% - 20% = 80%)

400(0.8) = 320

Mark ups

• If the original price is known, this strategy works will for markups also– Example: An item that normally sells for $400 is

marked up 20%.

• Because the item is being marked up, you are paying for more than 100% of the item. You are paying for 100% + 20% = 120% or 1.2.

400(1.2) = 480

• Sasha went shopping and decided to purchase a set of bracelets for 25% off of the regular price all week.. If Sasha buys the bracelets today, she will receive an additional 5%.

– Is taking 30% off the original the same as taking 25% off, then 5% off the answer? Justify.

– How much will Sasha save by purchasing the bracelets today?

• Sasha went shopping and decided to purchase a set of bracelets for 25% off of the regular price all week.. If Sasha buys the bracelets today, she will receive an additional 5%.

– Is taking 30% off the original the same as taking 25% off, then 5% off the answer? Justify.

No. 30% of 44 = $13.20 discount for a total of $30.80

25% of 44 = $11 discount or $33 then 5% of 33 is $1.65 for a total of $31.35

– How much will Sasha save by purchasing the bracelets today? 44 – 31.35 = $12.65 saved

• A $300 mountain bike is discounted by 30% and then discounted an additional 10% for shoppers who arrive before 5:00 a.m.

– a. Find the sales price of the bicycle.

– b. In all, by how much has the bicycle been discounted in dollars? Explain.

– After both discounts were taken, what was the total percent discount?

• Games Galore Super Store buys the latest video game at a wholesale price of $30. The markup rate at Game’s Galore Super Store is 40%. You use your allowance to purchase the game at the store. How much will you pay, not including tax?

• A golf store purchases a set of clubs at a wholesale price of $250. Mr. Edmond learned that the clubs were marked up 200%. Is it possible to have a percent increase greater than 100%? What is the retail price of the clubs?

Exit

• A store that sells skis buys them from a manufacturer at a wholesale price of $57. The store’s markup rate is 50%.

• a. What price does the store charge its customers for the skis?

• b. What percent of the original price is the final price? Show your work.

Exit

• A store that sells skis buys them from a manufacturer at a wholesale price of $57. The store’s markup rate is 50%.

• a. What price does the store charge its customers for the skis?

– 50% of 57 = 28.50 28.50 + 57 = 85.50

• b. What percent of the original price is the final price? Show your work.

– 100% + 50% = 150%