Lesson 7

Lesson 7

Markup/ Markdown Problems

• markup- the amount the price increases

• markdown- the amount the price decreases

• original price- starting price before the markup/markdown

• selling price- original price plus the markup or minus the markdown

How to find the markup/markdown percent

• for a markup: 100% + markup percent

• for a markdown: 100% - markdown percent

• 
  

• 
  

If a product is marked up 40%, what is the percent?

• 100%+ 40%= 140%

• 
  

If a product was marked down 30%, what is the percent?

• 100%-30%= 70%

Equation

• Selling Price=  $Percent\times\ Original\$  

• But remember: The percent must be changed to a decimal before multiplying.

• For example, if your percent is 130%, you must change it to a decimal. So, it would be 1.3. Move the decimal point 2 spaces to the left.

Multiple Choice

A bike is originally $300. The store owner marks it down 20%. What is the percent?

• 20%

• 80%

• 100%

• 30%

Multiple Choice

Walmart buys AirPods for $299. If the store wants to make a profit, they must mark the price up to 30%. What is the selling price of the AirPods?

• $209.30

• $306.78

• $388.70

• $350.89

Multiple Choice

A store buys a video game for $30.00. In order to make a profit, the store marks up the price 40%. How much will you pay for the video game? Write an equation to find the price.

• X= 1.4(30)

• X=0.40(30)

• X=40(30)

• X=140(30)

Open Ended

Now, use the equation from the last question X= 1.4(30), to solve for the selling price of the game.

Multiple Choice

If the price was $30 and it got marked up to $42, what was the total markup of the video game?

• $12

• $30

• $42

• $24

Multiple Choice

A shirt was originally $30. The store owner marked down the shirt 20%. Then, he took an additional 10% off. First, find the selling price after the first discount of 20%.

• $22

• $24

• $28

• $20

Multiple Choice

Now, let's take 10% off after the 20%. So, the selling price after the 20% discount was $24. Now, take a markdown of 10% and find the selling price.

• $18.90

• $20.30

• $22.80

• $21.60

If you are asked to down a markdown and then take an additional markdown...

• You must first find the selling price after the first markdown.

• Then, you will use the new selling price and take the second markdown.

• You cannot add the percents together and find the selling price

• You must do one markdown at a time

Open Ended

A pair of shoes is orignally $60. The store owner marks the shoes down 50%. Then, he takes an additional 15% off... What is the final selling price?

Open Ended

A $300 mountain bike is discounted by 30% and then an additional 10% for the first 10 shoppers in line. Find the sales price of the bicycle.

Open Ended

If a product is originally $39 and it is marked down to $32, how many dollars was the product marked down?