Managing Your Personal Finances Unit 7: Computing Discounts 1.

Managing Your Personal FinancesUnit 7: Computing Discounts

1

STANDARD 8.2

Students will be able to calculate discounts, double discounts and tips.

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Lesson Goals

I can calculate discounts. I can calculate double discounts. I can calculate tips.

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Calculating Discount…

Discount TermsOriginal Price The price the retailer originally thought he could sell the good or

service for (retail price).Sale Price The price at which the retailer hopes a consumer feels she “has” to

buy the good or service.Discount The percentage difference between the original and the sale price.Double Discount A discount on top of a discount.

4


Simple Discount-Working Together #1What is the Sale Price of a shirt originally $30.00 with a Discount of 10% off?Original Price - Discount (Original Price * Sale Percentage)

= Sale Price

Step 1. $30.00 * 10% = $3.00 Step 2. $30.00 - $3.00 =$27.00

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$ 30.00

- ___________

= $

Another way to calculate: 90% of $30.00 or

$30.00 * 90% = $27.00


Simple Discount-Working Together #2What is the Sale Price of a shirt originally $50.00 with a Discount of 15% off?Original Price - Discount (Original Price * Sale Percentage)

= Sale Price

Step 1. $50.00 * 15% = $_________ Step 2. $50.00 - $______ =$_______

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$ 50.00

- ___________

= $


$50.00 * 85% = $______


Simple Discount-On Your Own #1What is the Sale Price of a shirt originally $60.00 with a Discount of 25% off?Original Price - Discount (Original Price * Sale Percentage)

= Sale Price

Step 1. $60.00 * 25% = $_________ Step 2. $60.00 - $______ =$_______

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$ 60.00

- ___________

= $


$60.00 * 75% = $______


Simple Discount-On Your Own #2What is the Sale Price of a pair of pants originally $29.99 with a Discount of 15% off?Original Price - Discount (Original Price * Sale Percentage)

= Sale Price

Step 1. $29.99 * 15% = $_________ Step 2. $29.99 - $______ =$_______

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$ 29.99

- ___________

= $


$29.99 * 85% = $______


Calculating the Percentage Discount-Working Together #1What is the Percentage Discount of a shirt that was originally priced at $40.00 and you paid $30.00?

% Discount =

9

Price Original

Price New - Price Original

Discount %2500.40

00.3000.40$


Calculating the Percentage Discount-Working Together #2What is the Percentage Discount of a shirt that was originally priced at $35.00 and you paid $27.00?

% Discount =

10

Price Original


Discount %____00.35

00.2700.35$


Calculating the Percentage Discount-On Your Own #1What is the Percentage Discount of a watch that was originally priced at $75.00 and you paid $65.00?

% Discount =

11

Price Original


Discount %_____________

__________$


Calculating the Percentage Discount-On Your Own #1What is the Percentage Discount of a tie that was originally priced at $45.99 and you paid $38.99?

% Discount =

12

Price Original


Discount %_____________

__________$

Double Discount…Double Discounts are discounts on top of discounts. This is a technique used by retailers to convince consumers that they are getting a “really” good bargain.You will see signs like:

“Marked down twice” “Reduced for clearance” “Take an additional 10% off

at the register” “Discontinued Item”

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Calculating Double Discount…Double Discount-Working Together #1:What is the Sale Price for a jogging suit that originally costs $100.00 with 50% Discount and an additional 50% Discount.

Original Price- Discount = Sale Price- Additional Discount

= Double Discount Price

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OriginalPrice

x Sale 50% = Discount Sale Price (Original Price –Discount)

x Additional 50% offOf Sale Price

= New Price(Sale Price –

Additional Off)

$100.00 50% $50.00 $50.00 25.00 $25.00

$ 100.00

- $ 50.00

= $ 50.00

- $ 25.00

= $ 25.00

Calculating Double Discount…Double Discount-Working Together #2:What is the Sale Price for a jogging suit that originally costs $75.00 with 25% Discount and an additional 15% Discount.



15

OriginalPrice




Additional Off)

$ 75.00

- $_____

= $_____ - $_____

= $_____

Calculating Double Discount…Double Discount-On Your Own #1:What is the Sale Price for a watch that originally costs $69.99 with 20% Discount and an additional 15% Discount.



16

OriginalPrice




Additional Off)

$ 69.99

- $_____

= $_____ - $_____

= $_____

Calculating Double Discount…Double Discount-On Your Own #2:What is the Sale Price for a watch that originally costs $85.99 with 25% Discount and an additional 20% Discount.



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OriginalPrice




Additional Off)

$ 85.99

- $_____

= $_____ - $_____

= $_____

How Much Should You Tip at Restaurants?

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$ 100.00

* 15%

= $ 15.00

There are different rules for different kinds ofrestaurants and different levels of service. Generally, you should tip between 15-20% of the total bill (before taxes.)Working Together #1What is a reasonable tip to leave for a restaurant bill of $100 (if you had good service)?


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$ 75.00

* 15%

= $______

On Your Own #1What is a reasonable tip to leave for a restaurant bill of $75.00 (if you had good service)?


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$ 50.00

* 15%

= $_____

On Your Own #2What is a reasonable tip to leave for a restaurant bill of $50.00 (if you had good service)?

Managing Your Personal Finances Unit 7: Computing Discounts 1.

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