2. Lesson 6-8 Warm-Up

3. Markup and Discount (6-8)
What is “markup”? How do you find the percent of markup ?
markup (also known as profit): the amount a store adds to the amount it paid for an item (the store’s cost), so the store can make a profit. The selling price is the amount the store sells an item for after markup. The percent of markup is a percent of increase or the difference between the store’s cost and the selling price. Rule: store’s cost + markup = selling price To find the markup, find the percent of increase using a proportion or by dividing the amount of markup by the store’s original cost. Rule:

4. Markup and Discount (6-8)
Example: An electronics store orders a set of walkie-talkies for $14.85 each and sells each set for $ What is the percent of markup? Method 1: Proportion
19.90 – = Find the markup (amount of increase) # %
Part (Known)
5.05 m
Whole (Unknown)
14.85
100
= Proportion .
5.05
14.85 x
100
14.85 • x = 5.05 • 100 Cross products are equal. 1
= Divide both sides by
14.85x
14.85
5.05 1
x =  = 0.34 = = 34%
The percent of markup 34%.

5. Markup and Discount (6-8)
How do you find the percent of a number?
Method 2: Divide the markup by the original amount (store’s cost)
19.90 – = Find the markup
= Divide the markup by the store’s cost
(original amount of the item)
5.05
14.85
0.34
= 34% Multiply by 100, which means move the
decimal 2 places to the right to change
a decimal into a percent.
The percent of markup 34%.

6. Find the amount of markup.
Markup and Discount
LESSON 6-8
Additional Examples
Find the percent of markup for a stapler costing the school store $2.10 and selling for $3.36.
3.36 – 2.10 = 1.26
Find the amount of markup. # %
Part (Known)
1.26 m
Whole (Unknown)
2.10
100
1.26
2.1 m
100 =
Write a proportion.
Let m = percent of markup.
100 • 1.26 = 2.1m
Write the cross products.
126
2.1
2.1m =
Division Property of Equality.
60 = m
Simplify.
The percent of markup is 60%.

7. markup = percent of markup • store’s cost
Markup and Discount
LESSON 6-8
Additional Examples
A grocery store has a 20% markup on a can of soup. The can of soup costs the store $1.25. Find the markup.
markup = percent of markup • store’s cost
= 0.2 • 1.25  
= 0.25        Simplify.
The markup is $.25.

8. Markup and Discount (6-8)
How do you find the selling price (regular price)?
To find the selling price, add the markup to the store’s cost. Example: A music store’s percent of markup is 67%. If a CD cost the store $10.15, what is the selling price of the CD? Step 1: Find the markup. markup = 67% of $10.15 = 0.67 • $10.15 Change percent to a decimal, “of” to a “times” sign, and remove labels  6.80 Simplify and round to the nearest cent. Step 2: selling price = markup + original rice selling price = $ $10.15 Substitute The CD is selling for $16.95.

9. 0.45 • 4.50 = 2.03 Multiply to find the markup.
Markup and Discount
LESSON 6-8
Additional Examples
A bookstore pays $4.50 for a novel. The percent of markup is 45%. Find the novel’s selling price.
0.45 • 4.50 = 2.03 Multiply to find the markup.
= 6.53   Store’s cost + markup = selling price.
The selling price is $6.53.

10. Markup and Discount (6-8)
What is “discount”? How do you find the discount / markdown ?
Discount (also called the Markdown): the amount a store subtracts from the selling price, so the store can sell an item quickly. The sale price is the new price after the discount is taken off. amount . The percent of discount (markdown) is a percent of decrease or the difference between the selling price and the sale price. Rule: selling price (regular price) - discount = sale price To find the discount, find the percent of decrease using a proportion or by dividing the amount of discount (markdown) by the store’s original cost similar to the way you found the percent of markup. Rule:

11. Markup and Discount (6-8)
Example: Athletic shoes that normally sell for $85.99 are on sale for 20% off. What is the sale price of the shoes. Method 1: Selling Price (Regular Price) – Discount = Sale Price
First, use a proportion to find the discount. # %
Part (Unknown) d 20
Whole (Known)
85.99
100
= Proportion . d
85.99 20
100
100 • x = • 20 Cross products are equal. 1
= Divide both sides by
100x
100
1719.8 1
x =  100  17.20
So, the discount is 17.20%.
Selling Price (Regular Price) – Discount = Sale Price
$ = $68.79
The shoes are on sale for $68.79

12. Markup and Discount (6-8)
Method 2: Find the new percent of the original price.
100% – 20% = 80% Find the new percent after the percent
of change
Now, find the new percent of the original price. You can use a
proportion or an equation to do this. # %
Part (Unnown) d 80
Whole (Known)
85.99
100
= Proportion . d
85.99 80
100
100 • x = • 80 Cross products are equal. 1
= Divide both sides by
100x
100
6879.2 1
x =  100  68.79
The shoes are on sale for $68.79

13. Find the percent of discount for a $74.99 tent that
Markup and Discount
LESSON 6-8
Additional Examples
Find the percent of discount for a $74.99 tent that
is discounted to $48.75.
74.99 – = 26.24
Find the amount of discount. # %
Part (Unknown)
26.24 p
Whole (Known)
74.99
100
26.24
74.99 p
100 =
Write a proportion.
74.99 • p = • 100
Write the cross products.
74.99p
74.99
2,624 =
Division Property of Equality. p
Simplify.
The percent of discount for the tent is about 35%.

14. discount = percent of discount • regular price
Markup and Discount
LESSON 6-8
Additional Examples
A camera that regularly sells for $210 is on sale for 30% off. Find the discount.
discount = percent of discount • regular price
= 0.30 • 210
= 63
The discount is $63.

15. A shoe store advertises a 35%-off sale. What is
Markup and Discount
LESSON 6-8
Additional Examples
A shoe store advertises a 35%-off sale. What is
the sale price of shoes that regularly cost $94.99?
Find the discount first. 35% of $94.99 equals the discount.
0.35 • =
Multiply to find the discount.
= $33.25
Round to the nearest hundredth.
Then subtract to find the sale price.
94.99 – = 61.74
regular price – discount = sale price
The sale price is $61.74.

16. Markup and Discount
LESSON 6-8
Lesson Quiz
Solve.
1. The school store has a 65% markup on each stapler. Each stapler costs the store $2.10. Find the markup.
2. A clothes store pays $40 for a skirt. The percent of markup is 25%. Find the skirt’s selling price.
3. A pair of shoes that regularly sells for $94.99 is on sale for 30% off. What is the sale price?
$1.37
$50
$66.49