NAME:___________________________ Math 7.1, Periods 1 and 2 Mr. Rogove Date:__________ Lesson 48: Markup and Markdown Problems (Percents) 1 Learning Objective: We will solve problems involving percent markups and markdowns. (Lesson 48) Concept Development: Markup: The amount of increase in a price. Example: Safeway buys bandNaids at a wholesale price of $2.00 per box, and sells them for $3.50 per box. The markup is $1.50 Markdown: The amount of decrease in a price. Example: Heidi bought a calculator at Target. It was originally priced at $15, but on sale for $10. The markdown is $5.00 Original Price: The starting price. It can also be called the cost or wholesale price. Example: The original price of the bandNaids is $2.00. Selling Price: The original price plus the markup or minus the markdown. Example: The selling price of the bandNaids is $3.50. Markup rate: the percent increase in the price. Example: Bed Bath and Beyond sold a coffee maker for $50. They bought the coffeemaker from the manufacturer for $40 and marked up the price by 25%. Markdown rate (discount rate): the percent decrease in the price. Example: The day after Valentine’s Day, Andrew bought roses that were originally $20 for $10. He got a 50% discount. Solving Markup and Markdown Problems !"##$%& !"#$% = 1 + ! !"#$#%&’ !"#$% !"##$%& !"#$% = 1 − ! !"#$#%&’ !"#$% (m is the markup or markdown rate)
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Math Forum - Problem of the WeekJoin Us for a Quarter-pound Burger [Problem #1718]Tyron and Tracey were walking home from baseball practice, discussing what perfect weather
it was for a cookout. Tyron asked, "Wouldn't it be fun to make quarter-pound burgers just like
they sell at fast-food restaurants?"
Tracey agreed that it would be a great idea. They stopped to think what they would need,
whom they would invite, and all of the other details needed to plan a cookout.
Since the theme of the party would be, "Join us for a quarter-pound burger!" they spent some
time trying to figure out exactly how much ground beef they would need to purchase. Tracey
asked, "If we buy 3 pounds of ground beef, how many quarter-pounders can we make?"
Tyron thought a minute, answered, and then said that, for so many people -- a total of 16
guests, including the two of them -- 3 pounds wouldn't be enough. He calculated how much
they would need and Tracey agreed with his calculations.
Can you explain what Tyron and Tracey calculated? Why wouldn't 3 pounds be enough to
make quarter-pounders for 16 people? Exactly how much would they need to buy?
Depending on the amount of fat in ground beef, cooked burgers can weigh considerably less
than uncooked meat. If the cooked burgers lost 17% of their uncooked weight, how much
would all of the cooked meat weigh?
For your short Answer, use complete sentences to state the amount of ground beef needed as
well as the predicted weight of the meat after cooking. Be sure to answer all the questions