This document provides examples of calculating markups and discounts on various retail items. It asks the reader to calculate the markup, selling price, discount, or sale price for items like a shirt, can of soup, computer mouse, pair of gloves, video game, and diamond necklace. It also asks the reader to determine if a store would make a profit if they marked up a shirt 35% and then discounted it 55%. Finally, it discusses wholesale stores and asks the reader to explain how and why they may or may not save money compared to regular stores.

1. AIM: Mark-Ups and Discounts
Do Now
1

2. 2

3. Anticipatory Set
1.) How do retail stores make a profit on selling
merchandise when they have to buy the merchandise first?
A.) If Aeropostale buys a shirt for $21.00 and uses a
percent markup of 42%, Find the markup and then find the
selling price.
3

4. B.) A grocery store has a 20% markup on a cap of soup. The
can costs $1.25. Find the markup and the selling price.
C.) A computer store pays $6.00 for a computer mouse. The
percent of markup is 75%. Find the markup and the selling
price.
4

5. D.) Once Mr. Tjersland found out that he would be
doing afternoon bus duty, he realized that he
needed to buy a pair of gloves. At Macy‛s, he found
a pair of gloves for $45.00. He noticed that Macy
was having a 25% off sale. Find the discount and
how much Mr. Tjersland paid. (Aside: He bought
them during no sales tax week)
5

6. Percent of Discount:
Selling Price:
E.) A video game that regularly sells for $39.95 is
on sale for 20% off. What is the discount and what
is the sale price?
6

7. Let's say that I buy diamond necklace that was listed at $1500.
The discount was 25% with an extra 15%. Find the sale price of
the necklace.
Wait, find 40% of $1500. What do you notice?
7

8. F.) If a store buys a shirt for $15.00, then use a
percent markup of 35%. They then discount the shirt
55%, did they make a profit on the shirt?
Why do stores have sales?
8

9. BEFORE YOU LEAVE
Wholesale stores promise that you will save money because
they cut out the middleman (a middleman is someone who
buys products from manufacturers and sells them to stores
or another middlemen).
1.) Why should this save you money?
2.) Explain a way that you might not save money at a
wholesale store?
9

10. Mr. Tjersland's Math 7
Homework: Textbooks and Calculators due back Tuesday 6/14/11
10