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Percent Increase And Decrease

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Transcript

  • 1. QUIZ
    • What is the formula for percent of change?
    • Given the following information:
      • Original: 58
      • New: 88
      • find the percent of change (make sure to include whether it was an increase or decrease).
    • I went to the store and PURCHASED a jacket that was only $27. I looked at the clothing tag and the ORIGINAL price was $70. What was the percent of change from the price I paid to the original price?
  • 2. Percents…(continued)
  • 3. Mark-Ups
    • A markup is when the price is INCREASED.
  • 4. Words that indicate a MARKUP
    • Markup
    • Tax (calculated on the FINAL subtotal)
    • Tip
    • Increased
    • % increase
    • Profit
    • Interest
  • 5. How to CALCULATE markups
    • Wholesale price: $13
    • Markup percent: 110%
    • Step 1 : Start with original AMOUNT. $13
    • Step 2 : Find the markup AMOUNT using the markup PERCENT.
    • $13 x 1.10 = $14.3 (this gives us our markup AMOUNT)
    • Step 3 : Add our MARKUP amount to the ORIGINAL amount.
    • $14.30 + $13 = $27.30
    • This means that $27.30 is the price we must charge in order for us to obtain 110% of our original wholesale price.
  • 6. Now, you try it…
    • Wholesale Price: $45
    • Markup Percent: 18%
  • 7. Now, you try it…
    • Wholesale Price: $178
    • Markup Percent: 20%
  • 8. Discounts
    • A discount is when the price is DECREASED.
  • 9. Words that indicate a DISCOUNT
    • Discount
    • Decrease
    • Sale
    • % off
  • 10. How to CALCULATE discounts
    • Original price: $50
    • Sale percent: 27%
    • Step 1 : Start with original AMOUNT. $50
    • Step 2 : Find the sale DISCOUNT using the sale PERCENT.
    • $50 x .27 = $13.50 (this gives us our discount AMOUNT)
    • Step 3 : Subtract our discount AMOUNT from the ORIGINAL amount.
    • $50 - $13.50 = $36.50
    • This means that $36.50 is the price we pay AFTER the discount of 27%.
  • 11. Now, you try it…
    • Original Price: $44
    • Sale Percent: 25%
  • 12. Now, you try it…
    • Original Price: $180
    • Discount Percent: 15%
  • 13. You try a real world application.
    • I went to Marshall’s and saw a coat that I liked. This being Marshall’s, they had EVERYTHING on discount, AND they additionally had a sale. The coat that I liked was originally $75. Marshall’s had marked the coat down 10% initially. They THEN had the coat listed at 30% off. I thought this was a good deal so I went to the register to pay. This being Tennessee, though, I remembered there is a sales tax of 9.75%. What was the final price that I paid after my sale discount and tax?
  • 14. Homework
    • Page 360
      • #8, 10, 16, 24

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