Presentation is loading. Please wait.

Presentation is loading. Please wait.

Bell Work 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.

Similar presentations


Presentation on theme: "Bell Work 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."— Presentation transcript:

1 Bell Work 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 7 2 5 = 0.4 40% decrease 0 Change decimal to a %

2 TAKE OUT A CALCULATOR Discounts, Markups Tax and Tip

3 Markup vs. Discount Markup A retail store buys items at wholesale prices. To cover expenses and make a profit, they sell items at higher retail prices. The extra amount is called the markup A retail store buys items at wholesale prices. To cover expenses and make a profit, they sell 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 Percent of Mark-Up Percent Mark-up Percent Change From $10 to $25 15 10 = 1.5 0 Markup 150% Find the percent of markup for the $10 wholesale shirt the store sells for $25. Change decimal to a percent

5 Percent of Discount A $28 book is on sale for $21. Find the % discount. Percent DiscountPercent Change From $28 to $21 7 28 = 0. 25 Discount Change decimal to %

6 Markup & Discount $25.99 sweater marked up 20% $31.25 toy discounted 33%

7 Sales tax is calculated by multiplying the retail price of an item by the sales tax rate for 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

8 Sales tax is calculated by multiplying the retail price of an item by the sales tax rate for 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

9 The sales tax in Ohio is 8.5%. Your family is buying 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

10 The sales tax in Ohio is 8.5%. Your family is buying a new car for $20,000. What will be the total cost of the car? METHOD 2 Add 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

11 A family purchased a DVD player for $200. The sales tax rate was 7%. What was the total cost of the purchase? Method 1 Add sales tax to the price: $200 x 7% = tax $200 x.07 = $14.00 tax $200 + 14.00 = $214.00 Method 2 Multiply 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

12 A family purchased a pool table for $825. The sales tax rate was 6%. What was the total cost ? Method 1 Add sales tax to the price: $825 x 6% = tax $825 x 0.06 = $49.50 $825 + $ 49.50 = $874.50 Method 2 Multiply 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.

13 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 C hange 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

14


Download ppt "Bell Work 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."

Similar presentations


Ads by Google