6-9 Markup & Discount Finding prices.

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6-9 Markup & Discount Finding prices

Mark-up Stores buy the items they sell at a wholesale price. To make a profit, they must sell the items for more money. Markup is the amount a price increases from wholesale. The percent of markup is the percent increase in price.

Mark-up Example: A store pays $10.15 for a CD from the wholesaler. The store’s percent of markup is 67% The markup on the CD is about $6.80, or 0.67×10.15 What is the final selling price you would pay for the CD if you bought it at the store?

Practice 1: Find the markup A clothing store pays $56 for a jacket. The store’s percent of markup is %75. What is the markup on the jacket? What is the selling price on the jacket?

Practice 2: Find the markup A computer store pays $6 for a computer mouse. The percent of markup is 75%. What is the markup? What is the selling price for the mouse?

Discount The amount a price decreases when an item goes on sale is called the discount. The percent of decrease of the price is called the percent of discount. The sale price = regular price - discount

Discount: Example A pair of shoes that normally sell for $85.99 are on sale for 20% off. The discount is about $17.20, or 0.20×85.99 What is the sale price?

Practice 1: Finding the discount Pants priced at $21.99 are marked 15% off. What is the discount? What is the sale price?

Practice 2: Finding the discount A camera that is regularly $210 is on sale for 30% off. What is the discount? What is its sale price?

Markups & Discounts More Practice You are selling your own mp3 songs online. When you calculate your expenses, you figure it costs you $0.02 to produce each mp3 song if you sell fewer than 150,000 songs. If you sell each song for $0.99 each, what is the markup you’ve charged? What is your percent of markup? How many mp3s of songs do you have to sell to make $500 in profit?

Markups & Discounts More Practice Your mp3s aren’t selling as well as you’d hoped, so you decide to drop the price to $0.50 per song. What is the discount you’re offering? What is the percent of discount? What is the new markup on this new price? What is the new percent of markup on this new price?