Find the discount/markup first then find the & new price.

1) $6 shirt 20% off _______ _______

2) $65 shoes 15% off _______ _______

3) $80 tickets 40% markup _______ _______

4) $25 passes 130% markup _______ _______

5) $4 earrings 5.5% tax _______ _______

6) $1,250 car 8.75% tax _______ _______

Discount/Markup Sale Price$1.20 $4.80

$9.75 $55.25

$32 $112

$32.50 $57.50

$.22 $4.22

$109.38 $1,59.38

TAKE OUT A CALCULATOR

Discounts, MarkupsTax and

TipDay 2

A $50 skateboard was marked up 10%. How much was it marked up and what is the new price?

Mark-up Retail Price10% of $500.10 $50

$5

+ $ 5

$55

Real World Example % of Number

Original Price+Mark-upRetail Price =

$50

A family purchased a TV for $650. The sales tax rate was 6%. What was the total cost of the purchase?

Method 1Add sales tax to the

price:$650 x 6% = tax$650 x .06 = $39.00 tax$650 + $39 = $689.00

Method 2Multiply the price by 106% since 6% is added to the cost.$650 x 106% = total cost$650 x 1.06 = $689.00

So, the total cost was $689.00.

Sales Tax

Markup

1) A store buys a pair of shoes at a wholesale price of $37.50 and sells them for $50. What is the amount of markup?

2) What is the percent of markup for the pair of shoes in problem 1?

3) Find the cost after markup: $15 movie, 20% markup

$12.50

33.3%

$18.00

Discount

1) A $90 coat is on sale for $76.50. What is the amount of discount?

2) What is the percent of discount for the coat in problem 1?

3) Find the cost after discount: $85 radio, 10% discount.

$13.50

15%

$76.50

A shirt that was $25 is on sale for 20% off. What is the sale price?

Method 1Subtract the discount

from the price:$25 x 20% = discount$25 x .2 = $5.00 discount$25 - $5 = $20.00

Method 2Multiply the price by 80% since that is what you ARE paying.$25 x 80% = total cost$25 x .8 = $20.00

So, the total cost was $20.00.

Discount

A radio that was $120 is on sale for 15% off. What is the sale price?

Method 1Subtract the discount

from the price:$120 x 15% = discount$120 x .15 = $18.00 discount$120 - $18 = $102.00

Method 2Multiply the price by 85% since that is what you ARE paying.$120 x 85% = total cost$120 x .85 = $102.00

So, the total cost was $102.00.

You Try!

Your bill is $35.50. What is your total after you leave a 20% tip and pay 6% tax?

Method 1$35.50 x 20% = $7.10 (tip)$35.50 x 6% = $2.13 (tax)$35.50 + $7.10 + $2.13 =

$44.73

Method 2Multiply the price by 126% since that is what you ARE paying.$35.50 x 126% = total cost$35.50 x 1.26 = $44.73

So, the total cost was $44.73.

Tax and Tip!

Your bill is $28.75. What is your total after you leave a 15% tip and pay 5% tax?

Method 1$28.75 x 15% = $4.31 (tip)$28.75 x 5% = $1.44 (tax)$28.75 + $4.31 + $1.44 =

$34.50

Method 2Multiply the price by 120% since that is what you ARE paying.$28.75 x 120% = total cost$28.75 x 1.2 = $34.50

So, the total cost was $34.50.

You try!

Skills Check!When you finish turn your paper over and

put it in the corner of your desk. Silent read, work on other homework or practice more problems. No talking.

Practice:Finish Markup, Discount,Tax and Tip Packet