Download presentation

Presentation is loading. Please wait.

Published byRosaline Park Modified over 8 years ago

1
Bell Work Movie tickets used to cost $5, now cost $7. Find the percent of change. A percent of change tells how much a quantity has increased or decreased relative to the original amount. From 5 to 7 2 5 = 0.4 40% increase 0 Change decimal to a %

2
TAKE OUT A CALCULATOR Markups Tax and Tip

3
Markup vs. Discount Markup A retail store buys items at wholesale prices. To cover expenses and make a profit, they sell items at higher retail prices. The extra amount is called the markup A retail store buys items at wholesale prices. To cover expenses and make a profit, they sell items at higher retail prices. The extra amount is called the markup.Discount When an item is on sale, the store is selling the item for less, so this is called discount.

4
Markup $25.99 sweater marked up 20% $31.19

5
Sales tax is calculated by multiplying the retail price of an item by the sales tax rate for an area. METHOD 1 Example: Shoes $100 Tax Rate 7% Sales Tax $100 x 0.07 = $7.00 Total Purchase Price $100 + $7.00 = $107

6
Sales tax is calculated by multiplying the retail price of an item by the sales tax rate for an area. Example: Shoes $100 Tax Rate 7% Add 7% to 100% since that includes the total price and the tax. Find 107% of $100. Find total $100 x 107% Multiply $100 x 1.07 = $107 Both methods give you the same answer! METHOD 2

7
The sales tax in Ohio is 8.5%. Your family is buying a new car for $20,000. What will be the total cost of the car? METHOD 1 Example: Car $20,000 Tax Rate 8.5% Sales Tax $20,000 x 0.085 = $1,700 Total Purchase Price $20,000 + $1700 Add the sales tax to the price of the car. = $21,700

8
The sales tax in Ohio is 8.5%. Your family is buying a new car for $20,000. What will be the total cost of the car? METHOD 2 Add 8.5% to 100% Multiply $20,000 x 1.085 Add 8.5% to 100% since that includes the total price and the car and tax. Find 108.5% of $20,000. Both methods give you the same answer! = $21,700

9
A family purchased a DVD player for $200. The sales tax rate was 7%. What was the total cost of the purchase? Method 1 Add sales tax to the price: $200 x 7% = tax $200 x.07 = $14.00 tax $200 + 14.00 = $214.00 Method 2 Multiply the price by 107% since 7% is added to the cost. $200 x 107% = total cost $200 x 1.07 = $214.00 So, the total cost was $214.00. Sales Tax

10
You and a friend go to lunch. The check comes to $24.85. Figure out how much you should tip if you want to leave 15%. Find 15% of 24.85 C hange 15% to a decimal = 0.15 x 24.85 = $3.7275 Put your answer in a sentence: The tip that should be left is $3.73

Similar presentations

© 2024 SlidePlayer.com Inc.

All rights reserved.

To make this website work, we log user data and share it with processors. To use this website, you must agree to our Privacy Policy, including cookie policy.

Ads by Google