# Do Now 2/17/14 Take out HW from last Wednesday night.

## Presentation on theme: "Do Now 2/17/14 Take out HW from last Wednesday night."— Presentation transcript:

Do Now 2/17/14 Take out HW from last Wednesday night.
Practice worksheet 6.5, #1-8 Copy HW in your planner. Practice worksheet 6.6 A, #1-12 except 12d POTW #8 due tomorrow In your journal, answer the following. Deborah can choose between a monthly salary of \$1800 plus 6.5% of sales or \$2100 plus 4% of her sales. She expects sales to be between \$5,000 and \$10,000 a month. Which salary option should she choose? Explain.

Deborah can choose between a monthly salary of \$1800 plus 6
Deborah can choose between a monthly salary of \$1800 plus 6.5% of sales or \$2100 plus 4% of her sales. She expects sales to be between \$5,000 and \$10,000 a month. Which salary option should she choose? Explain. \$1,800 plus 6.5% of sales \$2,100 plus 4% of sales What is 6.5% of \$5,000? What is 6.5% of \$10,000? What is 4% of \$5,000? What is 4% of \$10,000? Commission = \$325 Commission = \$650 Commission = \$200 Commission = \$400 + Salary = \$1800 + Salary = \$1800 + Salary = \$2100 + Salary = \$2100 Total = \$2,125 Total = \$2,450 Total = \$2,300 Total = \$2,500 She would make between \$2,125 to \$2,450. She would make between \$2,300 to \$2,500.

Homework Section 6.5 B Practice worksheet
1) 2) 3) 9% 4) \$3000 5) sales tax: \$2.33 total cost: \$38.18 6) Salesperson A: \$ 7) 18% 8) 57 games

Objective SWBAT practice finding percent of change, retail prices, sales prices, commission, sales tax, and percent of earnings

Section 6.5 “Percent Applications”
Percents can be applied to many everyday ordinary activities: 1) commission 2) tips 3) sales tax 4) percent of earnings 5) revenue and profit 6) manufacturer price and markups 7) sale price and discounts

Manufacturer Price Sale Price Markup Original Price Retail Price Discount

Markups A retailer (store) buys items from manufacturers at WHOLESALE/ MANUFACTURER PRICES. The retailer then sells those items to customers (you and me) at RETAIL PRICES. The increase in price from the WHOLESALE PRICE to the RETAIL PRICE is how a store makes money. This increase is called a MARKUP. Retail price = Wholesale / Manufacturer price + Amount of Increase (Markup)

Markups Modell’s buys Nike brand sneakers from the Nike manufacturer for \$40. Modell’s then increases the price by 150%. What is the retail price? also known as a “MARKUP” Retail price = Manufacturer / Wholesale price Amount of Increase + What is 150% of 40? = + 40 or (150% ∙ 40) 60 = 40 + = \$100

Markups Winter Wonders buys snow globes from a manufacturer for \$9.20 each sells them at a 95% increase in price. What is the retail price? also known as a “MARKUP” Retail price = Manufacturer / Wholesale price Amount of Increase + What is 95% of \$9.20? = + 9.20 or (95% ∙ \$9.20) 8.74 = 9.20 + = \$17.94

Discounts A decrease from the original price of an item to the sale price is a DISCOUNT. The discount is calculated using a percent of the original price. Amount of Decrease (Discount) Sale price = Original price

Discounts You buy a shirt that is on sale for 15% off the original price of \$25. What is the sale price? also known as a “DISCOUNT” = Original price Amount of decrease Sale price What is 15% of 25? = 25 or (15% · 25) = 25 3.75 = \$21.25

Discounts The regular price of an MP3 player is \$ This week the MP3 player is on sale 25% off. What is the sale price? also known as a “DISCOUNT” = Original price Amount of decrease Sale price What is 25% of 79.99? = 79.99 or (25% · 79.99) = 79.99 \$20.00 = \$59.99

Percent Application Formulas
Percent Proportion Retail price = Wholesale price + Amount of Increase (Markup) Sale price Original price Amount of Decrease (Discount) =

24 Homework Text p. 248, #11, 12, 19, 20 Text p. 252, #16 & 17

Clock Partners With your 4:00 partner, complete Punchline worksheet #96 & Practice worksheet 6.5.

Percent Application Formulas
Percent Proportion Percent of change = Retail price = Wholesale price + Amount of Increase (Markup) Sale price Original price Amount of Decrease (Discount) = Tip = Tip % x Sales Sales Tax = Tax rate x Purchase price Commission = Commission rate x Sales

Download ppt "Do Now 2/17/14 Take out HW from last Wednesday night."

Similar presentations