6.8 & 6.9 Percent Change Markup
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The document discusses calculating percentages of increase, decrease, markup, and discount. It provides examples of finding the percent of increase from original to new amounts, percent of decrease, markup as a percentage increase from cost to selling price, and discount as a percentage decrease from original to sale price. Different methods for calculating discount are presented, including finding the discount amount then the sale price, or calculating sale price directly.
6.8 & 6.9 Percent Change Markup
- 1. Chapter 6, Section 8: Percent of Change December 16 th , 2008
- 2. Finding Percent of Increase The percent an amount increases or decreases from its original amount is the percent of change . So Percent of Change = amount of change original amount
- 3. Find the percent of increase from 4 to 7.5 1 st : amount of increase: 7.5 – 4 = 3.5 2 nd : set up fraction. Percent of increase = amount of increase original amount 3.5/4 = 0.875 = 87.5% The percent of increase from 4 to 7.5 is 87.5%
- 4. Try These: Find each percent of increase. From 100 to 114 From 2.0 to 3.2 From 4,000 to 8,500 14% 60% 112.5%
- 5. Word Problem The annual production of video games in the United States has more than doubled since the 1960s. Find the percent of increase from 1960 to 1990. Percent of increase from 1960-1990 was about 133%. 205,000 1990 88,000 1960 Number of Video Games Produced Year
- 6. Finding Percent of Decrease Percent of Decrease is found the SAME way that Percent of Increase is. 1 st : Find Percent of Decrease. Subtract both numbers being compared. 2 nd : Amount of Decrease Original Amount 3 rd : Divide.
- 7. Find each percent of decrease. Round to nearest tenth. From 9.6 to 4.8 From 202 to 192 From 854.5 to 60.6 50% 5% 92.9%
- 8. Word Problem A computer that costs $875 last year costs $745 this year. Find the percent of decrease to the nearest percent. 14.85%
- 9. Chapter 6, Section 9: Markup and Discount
- 10. Finding Markups To make a profit, stores charge more for merchandise than they pay for it. The amount of increase is called MARKUP. The percent of increase is the PERCENT OF MARKUP. (Much like Percent of Increase).
- 11. The Music Store A music store’s percent of markup is 67%. A CD costs the store $10.50. Find the markup. Markup = percent of markup • store’s cost = 0.67 • 10.50 Markup = $6.80
- 12. The Clothing Store A clothing store pays $56 for a jacket. The store’s percent of markup is 75%. Find the markup for the jacket. Jacket is marked up $42.
- 13. Selling Price Store’s Cost + Markup = the Selling Price. If the markup for the CD is $6.80 and it costs the store $10.50, how much do you pay? If the jacket costs the store $56 and the markup is $42, how much do you pay?
- 14. The Sporting Goods Store A store pays $5 for a baseball cap. The percent of markup is 70%. Find the selling price of the cap. .70 • $5 = $3.50 $3.50 + $5 = $8.50
- 15. Finding Discount There are TWO Methods 1 st Method: Find the Discount, Then find the sale price. 2 nd Method: Find the Sale Price Directly.
- 16. Method 1: Two Step Method Discount = percent of discount • original price. = 0.20 (20%) • $39.95 = $7.99 Sales Price = Original Price – Discount = $39.95 - $7.99 = $31.96 is the price you pay after discount.
- 17. Method 2: One Step Method Find the sale price directly. The sales price equals 100% of the original price, minus 20% of the original price. Sale Price = (100% - 20%) • Original Price = .80 (or 80%) • Original Price = .80 • $39.95 Sale Price = $31.96
- 18. Assignment #49 Pages 316: 8-19 all. Page 320: 1-12 all.