6.6 Discounts and Markups 10/27/15. Discount How much an item’s price is reduced by.

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Presentation transcript:

6.6 Discounts and Markups 10/27/15

Discount How much an item’s price is reduced by

Example 1 You want to buy a guitar that originally cost $160. The store is having a 30% off sale on all guitars. How much will the guitar cost you?

Example 2 You buy some jeans on sale. They originally cost $50 but you only have to pay $30. What was the percent discount?

Markup How much a store adds to the price they originally paid for an item when they create the retail price

Example 3 A store buys a watch for $10 and marks it up 120% to sell it. How much was the markup?

Example 4 A store bought a dinosaur toy for $2 and sold it for $7. What was the percent markup?

Example 5 A store pays $10 for a purse and marks it up 80%. Later, all of the merchandise in the store goes on sale for 20% off. A customer buys the purse and uses a 25% off coupon. Sales tax is 9%. How much does that customer pay for the purse?