Lesson 7.6: Markup and Discount

1
Lesson 7.6 Markup and Discount

• Standard NS 1.7
• Objectives Find a markup.
• Find a discount.

2
Markup and Discount

• Markup and Discount are like tax, commission, and
  tip questions.
• You can
• Change the percent to a decimal and multiply.
• Write a proportion like percent problems

3
Markup vs. Discount

• Markup
• A retail store buys items at wholesale prices. To
  cover expenses and make a profit, the sells items
  at higher retail prices. The extra amount is
  called the markup.

• Discount
• When an item is on sale, the store is selling the
  item for less, so this is called discount.

4
Markup

• Finding the amount of markup.
• A store buys a shirt at a wholesale price of
  13.50 and sells the shirt for 24.95. How much
  was it marked up?

• Finding the percent of markup.
• What is the percent of markup for the shirt in
  the first problem?

5
Markup

• 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?
• What is the percent of markup for the pair of
  shoes in problem 1?
• Find the cost after markup 15 movie, 20 markup

6
Discount

• Find the amount of discount
• A 36 book is on sale for 27. What is the amount
  of discount?

• Find the percent of discount
• What is the percent of discount for the book in
  the problem before?

7
Discount

• A 90 coat is on sale for 76.50. What is the
  amount of discount?
• What is the percent of discount for the coat in
  problem 1?
• Find the cost after discount 85 radio, 10
  discount.

8
Shopping Activity

• It is time to shop!
• You have 1000 dollars to spend, no more!
• You need to shop at least at 6 stores, where you
  can buy at least one item. Be sure to have at
  least 2 markups and 2 discounts.
• Find the cost after the markup or discount.