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Markups and Discounts: Chapter 7.6 Goals: To find the NEW PRICE after a markup. To find a NEW PRICE after a discount.
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Markups and Discounts: Chapter 7.6 Goals: To find the NEW PRICE after a markup. To find a NEW PRICE after a discount.

Jan 01, 2016

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Wendy Campbell
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Page 1: Markups and Discounts: Chapter 7.6 Goals: To find the NEW PRICE after a markup. To find a NEW PRICE after a discount.

Markups and Discounts: Chapter 7.6

Goals:

To find the NEW PRICE after a markup.

To find a NEW PRICE after a discount.

Page 2: Markups and Discounts: Chapter 7.6 Goals: To find the NEW PRICE after a markup. To find a NEW PRICE after a discount.

Markup vs. DiscountMarkup vs. Discount

• MarkupMarkupA retail store buys A retail store buys

items at items at wholesale wholesale pricesprices. To cover . To cover expenses and make a expenses and make a profit, the sells items profit, the sells items at higher at higher retail retail pricesprices. The extra . The extra amount is called the amount is called the markupmarkup.

• DiscountDiscountWhen an item is on When an item is on

salesale, the store is , the store is selling the item for selling the item for less, so this is called less, so this is called discount.discount.

Page 3: Markups and Discounts: Chapter 7.6 Goals: To find the NEW PRICE after a markup. To find a NEW PRICE after a discount.

IN SHORT!!!

• Markup: means you have to pay more money. You’ll add the markup to the price.

• Discount: means you have to pay less money. You’ll subtract the discount from the price.

• YOU HAVE TO USE THE IS/OF EQUATION

Page 4: Markups and Discounts: Chapter 7.6 Goals: To find the NEW PRICE after a markup. To find a NEW PRICE after a discount.

WHAT WILL BE YOUR LAST STEP!(Add or Subract)

Wholesale price: 18Markup percent: 105%

add

with 18

Wholesale price: 102Markup percent: 50%

add

with 102

Page 5: Markups and Discounts: Chapter 7.6 Goals: To find the NEW PRICE after a markup. To find a NEW PRICE after a discount.

WHAT WILL BE YOUR LAST STEP!(Add or Subract)

Original Price: $22Discount Percent: 25%

subtract

from 22

Original Price: $90Discount Percent: 35%

subtract

from 90

Page 6: Markups and Discounts: Chapter 7.6 Goals: To find the NEW PRICE after a markup. To find a NEW PRICE after a discount.

WHAT WILL BE YOUR LAST STEP!(Add or Subract)

Wholesale price: $99Discount Percent: 120%

add

with 99

Original Price: $38Discount Percent: 40%

subtract

from 38

Page 7: Markups and Discounts: Chapter 7.6 Goals: To find the NEW PRICE after a markup. To find a NEW PRICE after a discount.

Markup or Discount Formula

X = % PRICE 100

FIRST: You have to find X.

THEN: You have to find the new price

Page 8: Markups and Discounts: Chapter 7.6 Goals: To find the NEW PRICE after a markup. To find a NEW PRICE after a discount.

SETTING UP THE IS/OF

Wholesale price: $18Markup percent: 105%

=10018

X 105

Wholesale price: $102Markup percent: 50%

=100102

X 50

Page 9: Markups and Discounts: Chapter 7.6 Goals: To find the NEW PRICE after a markup. To find a NEW PRICE after a discount.

SETTING UP THE IS/OF

Original price: $22Discount percent: 25%

=10022

X 25

Original price: $90Discount percent: 35%

=10090

X 35

Page 10: Markups and Discounts: Chapter 7.6 Goals: To find the NEW PRICE after a markup. To find a NEW PRICE after a discount.

SETTING UP THE IS/OF

Wholesale price: $99Markup percent: 120%

=10099

X 120

Original price: $38Discount percent: 40%

=10038

X 40

Page 11: Markups and Discounts: Chapter 7.6 Goals: To find the NEW PRICE after a markup. To find a NEW PRICE after a discount.

FINISH THE PROBLEM

Wholesale price: $18Markup percent: 105%

=10018

X 105

Wholesale price: $102Markup percent: 50%

18.9

What is the new price?

What is x?

Add 18.9 with 18

$36.90

=100102

X 50

51

What is the new price?

What is x?

Add 51 with 18

$69

Page 12: Markups and Discounts: Chapter 7.6 Goals: To find the NEW PRICE after a markup. To find a NEW PRICE after a discount.

FINISH THE PROBLEM

Original price: $22Discount percent: 25%

=10022

X 25

Original price: $90Discount percent: 35%

5.5

What is the new price?

What is x?

Subtract 5.5 from 22

$27.50

=10090

X 35

31.5

What is the new price?

What is x?

Subtract 31.5 from 90

$58.50

Page 13: Markups and Discounts: Chapter 7.6 Goals: To find the NEW PRICE after a markup. To find a NEW PRICE after a discount.

FINISH THE PROBLEM

Wholesale price: $99Markup percent: 120%

=10099

X 102

Original price: $38Discount percent: 40%

118.8

What is the new price?

What is x?

Add 188.8 with 99

$217.80

=10038

X 40

15.2

What is the new price?

What is x?

Subtract 15.2 from 38

$22.80

Page 14: Markups and Discounts: Chapter 7.6 Goals: To find the NEW PRICE after a markup. To find a NEW PRICE after a discount.

On Your Own

Practice WorkpagePg. 97 ex 1-6

BONUS:Pg. 98 ex 18-21