Presentation on theme: "Find the amount of the markup."— Presentation transcript:
1 Find the amount of the markup. EXAMPLE 2Finding a Retail PriceClothingA shirt has a wholesale price of $16. The percent markup is 120%. What is the retail price?SOLUTIONSTEP 1Find the amount of the markup.Markup120% of $16=1.2(16)=Write 120% as a decimal.19.2=Multiply.
2 EXAMPLE 2Finding a Retail PriceAdd the markup to the wholesale price.STEP 216+19.235.2=The retail price of the shirt is $35.20.ANSWER
3 EXAMPLE 3Finding a Retail PriceA portable CD player costs $48 before tax. The sales tax is 4.5%. What is the total cost?CD PlayerSOLUTIONSTEP 1Find the amount of the sales tax.4.5% of $48=0.045(48)2.16STEP 2Add the sales tax to the price of the portable CD player.2.16+48=50.16
4 EXAMPLE 3Finding a Retail PriceANSWERThe total cost of the CD player is $50.16.
5 GUIDED PRACTICEfor Examples 2 and 3Find the retail price.5.Wholesale price: $64Percent markup: 85%The retail price is $ANSWER
6 GUIDED PRACTICEfor Examples 2 and 3Find the retail price.6.Wholesale price: $35Percent markup: 110%The retail price is $73.50.ANSWER
7 GUIDED PRACTICEfor Examples 2 and 3Find the total cost. Round to the nearest cent7.Price: $8.90Sales tax: 5%The total cost is $9.35.ANSWER
8 GUIDED PRACTICEfor Examples 2 and 3Find the total cost. Round to the nearest cent8.Price: $54.07Sales tax: 7%The total cost is $57.85.ANSWER