Bell Work

New Amount - Original Amount

Original A=

mountPercent Change

Movie tickets used to cost $5, now cost $7. Find the percent of change.

A percent of change tells how much a quantity has increased or decreased relative to the original amount.

From 5 to 725 = 0.4

40% decrease

0% change

%

Change decimal to a

%

7 5 2

TAKE OUT A CALCULATOR

Discounts, MarkupsDiscounts, MarkupsTax and Tax and

TipTip

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, they sell items profit, they sell items at higher at higher retail pricesretail prices. . The extra amount is The extra amount is called the markupcalled the markup.

DiscountDiscount

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

Percent of Mark-Up

Percent Mark-up Percent ChangeFrom $10 to $25

1510 = 1.50

OriginaMarku

l Amp%=ount

%

% Markup150%

Find the percent of markup for the $10

wholesale shirt the store sells for $25.

Change decimal to a percent

Percent of Discount A $28 book is on sale for $21. Find the % discount.

Percent Discount Percent Change

From $28 to $21

728

= 0.25

OriginDisc

al Aount%=

mount

%

% Discount25%

Change decimal to %

Markup & Discount

Find 20% of $25.99

$25.99 sweater marked up 20%

0.20 $25.99$5.198$5.20 markup

$25.99

+ 5.20$31.19

Find 33% of $31.25

$31.25 toy discounted 33%

0.33 $31.25$10.3125

d$ iscount10.31

$31.25

-10.31

$20.94

Sales tax is calculated by multiplying theretail price of an item by the sales tax ratefor an area. METHOD 1

Example: Shoes $100 Tax Rate 7%

Sales Tax $100 x 0.07 = $7.00

Total Purchase Price $100 + $7.00 = $107

Sales tax is calculated by multiplying theretail price of an item by the sales tax ratefor an area.

Example: Shoes $100 Tax Rate 7%

Add 7% to 100% since that includes the total price and the tax. Find 107% of $100.

Find total $100 x 107% Multiply $100 x 1.07 = $107

Both methods give you the same answer!

METHOD 2

The sales tax in Ohio is 8.5%. Your family isbuying a new car for $20,000. What will be the total cost of the car? METHOD 1

Example: Car $20,000 Tax Rate 8.5%

Sales Tax $20,000 x 0.0085 = $1,700

Total Purchase Price $20,000 + $1700

Add the sales tax to the price of the car.

= $21,700

The sales tax in Ohio is 8.5%. Your family isbuying a new car for $20,000. What will be the total cost of the car? METHOD

2Add 8.5% to 100%

Multiply $20,000 x 1.085

Add 8.5% to 100% since that includes the total price and the car and tax. Find 108.5% of $20,000.

Both methods give you the same answer!

= $21,700

A family purchased a DVD player for $200. The sales tax rate was 7%. What was the total cost of the purchase?

Method 1Add sales tax to the

price:$200 x 7% = tax

$200 x .07 = $14.00 tax

$200 + 14.00 = $214.00

Method 2Multiply the price by 107% since 7% is added to the cost.$200 x 107% = total cost

$200 x 1.07 = $214.00

So, the total cost was $214.00.

Sales Tax

A family purchased a pool table for $825. The sales tax rate was 6%. What was the total cost?

Method 1Add sales tax to the price:$825 x 6% = tax$825 x 0.06 = $49.50$825 + $49.50 = $874.50

Method 2Multiply the price by 106% since 6% is added to the cost.$825 x 106% = total cost$825 x 1.06 = $874.50

So, the total cost of the purchase was $874.50.

You and a friend go to lunch. The check comes to $24.85. Figure out how much you should tip if you want to leave 15%.

Find 15% of 24.85 Change 15% to a decimal= 0.15 x 24.85 = $3.7275

Put your answer in a sentence: The tip that should be left is $3.73