Fractional Markdowns and Markups

Example 1: Bargains A retail clothing store advertises the following sale: Shirts are 1/2 off the original price; pants are 1/3 off the original price, and shoes are 1/4 off the original price (called the discount rate). a. If a pair of shoes cost $40 and is advertised at 1/4 off the original price, what is the sales price? Hint: Discount price = original price – rate × original price OR (1 - rate) × original price Method one: 40− 1 4 (40) =40− 10 =$30 Method two: 1− 1 4 40 = 3 4 40 =$30

𝟏 𝟒 off the original price is $𝟑𝟎. Bar Diagrams a. If a pair of shoes cost $40 and is advertised at 1/4 off the original price, what is the sales price? 𝟏 𝟒 off the original price is $𝟑𝟎. $𝟒𝟎÷𝟒 = $𝟏𝟎 3($𝟏𝟎) = $𝟑𝟎

You Try: Method one: 33− 1 3 33 =33−11=$22 𝐌𝐞𝐭𝐡𝐨𝐝 𝐭𝐰𝐨: 1− 1 3 = 2 3 Example 2: Bargains You Try: At Macy’s a pair of pants that usually sell for $33.00. If Macy’s advertises that the store is having 1 3 off sale, what is the sale price of the pants? Method one: 33− 1 3 33 =33−11=$22 𝐌𝐞𝐭𝐡𝐨𝐝 𝐭𝐰𝐨: 1− 1 3 = 2 3 2 3 33 =$22.00 The consumer pays 𝟐 𝟑 of the original price.

Bar Diagrams At Macy’s a pair of pants that usually sell for $33.00. If Macy’s advertises that the store is having 1 3 off sale, what is the sale price of the pants? $𝟑𝟑÷ 𝟑 = $𝟏𝟏 𝟐($𝟏𝟏) = $𝟐𝟐

Example 4: Born to Ride A motorcycle dealer took in a motorcycle and for $15,000 and marked it up by 1 5 of the price on his lot. What is the retail price at the dealership? Hint: Markup price = original price + rate × original price OR (1 + rate) × original price Method one: 15000+ 1 5 15000 =15000+3000=$18,000 𝐌𝐞𝐭𝐡𝐨𝐝 𝐭𝐰𝐨: 1+ 1 5 = 6 5 6 5 15000 =$18,000

Bar Diagram Example 4: Born to Ride A motorcycle dealer took in a motorcycle and for $15,000 and marked it up by 1 5 of the price on his lot. What is the retail price at the dealership? Markup $3000 $3000 $3000 $3000 $3000 $3000 Original $𝟏𝟓,𝟎𝟎𝟎÷𝟓 = $𝟑𝟎𝟎𝟎 $𝟏𝟓,𝟎𝟎𝟎+$𝟑𝟎𝟎𝟎=$𝟏𝟖,𝟎𝟎𝟎

You Try: Example 5: Shopping A store buys a pair of jeans at wholesale for $31. They mark it up by 1 2 of the price. What is the retail price of the jeans? Hint: Markup price = original price + rate × original price OR (1 + rate) × original price Method one: 31+ 1 2 31 =31+15.50=$$46.50 𝐌𝐞𝐭𝐡𝐨𝐝 𝐭𝐰𝐨: 1+ 1 2 = 3 2 3 2 31 =$46.50

Bar Diagram Example 4: Born to Ride A store buys a pair of jeans at wholesale for $31. They mark it up by 1 2 of the price. What is the retail price of the jeans? Markup $15.50 $15.50 $15.50 Original $𝟑𝟏÷𝟐= $𝟏𝟓.𝟓𝟎 $𝟑𝟏+$𝟏𝟓.𝟓𝟎=$𝟒𝟔.𝟓𝟎

Practice: Markup and Markdown worksheet