DO NOWDefine:

Markup:

An increase from the wholesale price of an item to the retail price.

Discount:

A decrease from the original price of an item to the sale price is a discount.

7.6 PERCENT APPLICATIONS

Objective:Find markups, discounts, sales tax, and tips.

Homework:Page 376 #’s: 8-13 all

FINDING A RETAIL PRICE

A street vendor buys bracelets from a manufacturer for $7 each. The vendor marks up the price by 150%.

Find the retail price of the bracelet.

One Way to Solve:

7 * 150%

7 * 1.5 = 10.5

10.5 + 7 = 17.5

Another Way to Solve:

7 * 250%

7 * 2.5 = 17.5

* When something is marked up, add 100 to the given % before multiplying. This will tell you the final price.

TRY IT OUT!

A street vendor buys bracelets from a manufacturer for $4 each. What is the retail price of a bracelet if the markup percent is 120%?

FINDING A SALE PRICEYou buy an electronic organizer that is on sale for 15% off the original price of $25. What is the sale price?

One Way to Solve:

25 * 15%

25 * .15 = 3.75

25 – 3.75 = $21.25

Another Way to Solve:

25 * 85%

25 * .85 = $21.25

* When something is marked down, subtract the given % from 100 before multiplying. This will tell you the final price.

TRY IT OUT!A pair of jeans that originally costs $42

is 25% off. Find the sale price.

INDEPENDENT PRACTICEPage 375 #’s: 3-7

CLOSUREName one thing you learned today.