Percent Increase And Decrease

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Percent Increase And Decrease

  1. 1. QUIZ <ul><li>What is the formula for percent of change? </li></ul><ul><li>Given the following information: </li></ul><ul><ul><li>Original: 58 </li></ul></ul><ul><ul><li>New: 88 </li></ul></ul><ul><ul><li>find the percent of change (make sure to include whether it was an increase or decrease). </li></ul></ul><ul><li>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? </li></ul>
  2. 2. Percents…(continued)
  3. 3. Mark-Ups <ul><li>A markup is when the price is INCREASED. </li></ul>
  4. 4. Words that indicate a MARKUP <ul><li>Markup </li></ul><ul><li>Tax (calculated on the FINAL subtotal) </li></ul><ul><li>Tip </li></ul><ul><li>Increased </li></ul><ul><li>% increase </li></ul><ul><li>Profit </li></ul><ul><li>Interest </li></ul>
  5. 5. How to CALCULATE markups <ul><li>Wholesale price: $13 </li></ul><ul><li>Markup percent: 110% </li></ul><ul><li>Step 1 : Start with original AMOUNT. $13 </li></ul><ul><li>Step 2 : Find the markup AMOUNT using the markup PERCENT. </li></ul><ul><li>$13 x 1.10 = $14.3 (this gives us our markup AMOUNT) </li></ul><ul><li>Step 3 : Add our MARKUP amount to the ORIGINAL amount. </li></ul><ul><li>$14.30 + $13 = $27.30 </li></ul><ul><li>This means that $27.30 is the price we must charge in order for us to obtain 110% of our original wholesale price. </li></ul>
  6. 6. Now, you try it… <ul><li>Wholesale Price: $45 </li></ul><ul><li>Markup Percent: 18% </li></ul>
  7. 7. Now, you try it… <ul><li>Wholesale Price: $178 </li></ul><ul><li>Markup Percent: 20% </li></ul>
  8. 8. Discounts <ul><li>A discount is when the price is DECREASED. </li></ul>
  9. 9. Words that indicate a DISCOUNT <ul><li>Discount </li></ul><ul><li>Decrease </li></ul><ul><li>Sale </li></ul><ul><li>% off </li></ul>
  10. 10. How to CALCULATE discounts <ul><li>Original price: $50 </li></ul><ul><li>Sale percent: 27% </li></ul><ul><li>Step 1 : Start with original AMOUNT. $50 </li></ul><ul><li>Step 2 : Find the sale DISCOUNT using the sale PERCENT. </li></ul><ul><li>$50 x .27 = $13.50 (this gives us our discount AMOUNT) </li></ul><ul><li>Step 3 : Subtract our discount AMOUNT from the ORIGINAL amount. </li></ul><ul><li>$50 - $13.50 = $36.50 </li></ul><ul><li>This means that $36.50 is the price we pay AFTER the discount of 27%. </li></ul>
  11. 11. Now, you try it… <ul><li>Original Price: $44 </li></ul><ul><li>Sale Percent: 25% </li></ul>
  12. 12. Now, you try it… <ul><li>Original Price: $180 </li></ul><ul><li>Discount Percent: 15% </li></ul>
  13. 13. You try a real world application. <ul><li>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? </li></ul>
  14. 14. Homework <ul><li>Page 360 </li></ul><ul><ul><li>#8, 10, 16, 24 </li></ul></ul>

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