12 10 Do now Multi- Step Percent Problems 7.RP.3

Front

What is markup in pricing?

Back

Markup is the amount added to the cost price of goods to cover overhead and profit. It is usually expressed as a percentage of the cost price.

Front

How do you calculate the total price after a markup?

Back

Total Price = Cost Price + (Markup Percentage × Cost Price). For example, if a book costs $4.25 and has a 30% markup, the total price is $4.25 + (0.30 × $4.25) = $5.53.

Front

What is percent decrease?

Back

Percent decrease is a measure of how much a quantity has decreased in relation to its original amount, expressed as a percentage.

Front

How do you calculate percent decrease?

Back

Percent Decrease = ((Original Price - Sale Price) / Original Price) × 100. For example, if a scooter's original price is $65.50 and the sale price is $52.40, the percent decrease is ((65.50 - 52.40) / 65.50) × 100 = 20%.

Front

What is a rebate?

Back

A rebate is a partial refund to someone who has paid too much for tax, rent, or a utility.

Front

How do you calculate savings from a rebate?

Back

Savings from a rebate = Original Price × Rebate Percentage. For example, for a $299 tablet with a 15% rebate, savings = $299 × 0.15 = $44.85.

Front

What is a coupon?

Back

A coupon is a voucher that provides a discount on a specific product or service.

Front

How do you determine which incentive is better: a rebate or a coupon?

Back

Compare the total savings from both options. The one with the higher savings is the better incentive.

Front

What is simple interest?

Back

Simple interest is a method of calculating the interest charge on a loan based on the original principal amount.

Front

How do you calculate simple interest?

Back

Simple Interest = Principal × Rate × Time. For example, for a loan of $1200 at 8% interest for 2 years, the interest is $1200 × 0.08 × 2 = $192.