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Markup and Discount

NS 1.4 Calculate given percentages of quantities

and solve problems involving discounts at sales,

interest earned, and tips.

Objective-Students will calculate give

percentages and find discounts, markups, tips,

and sales tax by scoring an 80 proficiency on a

quiz.

Terminology

Cost - The price retailers pay to a manufacturer

Selling Price - The price retailers charge

customers

Operating expenses or overhead - The regular

expenses of doing business such as rent, wages,

utilities, etc.

Markup, margin, or gross profit - The difference

between the cost of bringing the goods into the

store and the selling price

Net profit or net income - The profit remaining

after subtracting the cost of bringing the goods

into the store and the operating expenses

Copy these Steps

- Finding Markups
- Step 1 Find the amount of the markup (the

percent) - Step 2 Turn the percent into a decimal and

Multiply it by the original price - Step 3 Add the markup amount to the original

price.

- Finding Discounts
- Step 1 Find the amount of the discount (the

percent) - Step 2Turn the percent into a decimal and

Multiply it by the original price - Step 3 Subtract the discount amount to the

original price.

Markup and Discount

- Markup and Discount are like tax, commission, and

tip questions. - You can
- Change the percent to a decimal and multiply.
- Write an equation to find the missing percent.
- Write a proportion like percent problems

Basic Selling Price Formula

Selling price (S) Cost (C) Markup (M)

1,200 Computer

900 - Price paid to bring computer into store

300 - Dollars to cover expenses and profit

Markup vs. Discount

- Markup
- A retail store buys items at wholesale prices. To

cover expenses and make a profit, the sells 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.

Ex1 You buy a pair of jeans that is 30 off the

original price of 29. What is the sale price of

an item?

Discount

- Find the amount of the discount

30 of 29

0.3 x 29

8.7

Subtract the discount from the original price

29- 8.70

20.30

Ex 2 A store that sells skateboards buys them

from a manufacturer at a wholesale price of 57.

The stores markup is 150 . What is the retail

price?

Markup

- Find the amount of the markup( Percent) and turn

into decimal.

Markup 150 of 57

1.50 x 57

85.50

Add the markup amount to the original price

142.50

57.00 85.50

Markup

Ex 3

- Finding the amount of markup.
- A store buys a shirt at a wholesale price of

13.50 and sells the shirt for 24.95. How much

was it marked up?

- Finding the percent of markup.
- What is the percent of markup for the shirt in

the first problem?

11.45 is what percent of 13.50?

24.95- 13.50

11.45

84.8 or 85

Markup

- 1) A store buys a pair of shoes at a wholesale

price of 37.50 and sells them for 50. What is

the amount of markup? - 2) What is the percent of markup for the pair of

shoes in problem 1? - 3) Find the cost after markup 15 movie, 20

markup

Discount

- Find the amount of discount
- A 36 book is on sale for 27. What is the amount

of discount?

- Find the percent of discount
- What is the percent of discount for the book in

the problem before?

9.00

25

Discount

- A 90 coat is on sale for 76.50. What is the

amount of discount? - What is the percent of discount for the coat in

problem 1? - Find the cost after discount 85 radio, 10

discount.

Shopping Activity

- It is time to shop!
- You have 1000 dollars to spend, no more!
- You need to shop at least at 6 stores, where you

can buy at least one item. Be sure to have at

least 2 markups and 2 discounts. - Find the cost after the markup or discount.

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