Understanding Markup and Selling Price

The video tutorial explains how the 7th grade class can use a double number line to calculate a percent markup for their t-shirt fundraiser. It covers the concept of markup, which is the percentage added to the cost of an item to ensure a profit. The tutorial demonstrates how to represent the cost of a t-shirt with an algebraic expression, using 'X' for the cost and adding a 30% markup to determine the selling price. By multiplying the cost by 1.30, students can find the final price to charge for each t-shirt.

What is the purpose of a percent markup in sales?

• To determine the selling price without profit

• To calculate the total cost of production

• To ensure a profit is made on sales

• To reduce the cost of production

How is 20% represented on a double number line in decimal form?

• 2.00

• 0.02

• 0.20

• 0.002

What is the relationship between 100% and 1 on a double number line?

• 100% is equal to 0.1

• 100% is equal to 1

• 100% is equal to 10

• 100% is equal to 0.01

Why is markup important for the 7th graders' t-shirt fundraiser?

• To reduce the selling price

• To increase the production cost

• To cover the cost of materials

• To make a profit from sales

If the cost of a t-shirt is represented by X, how would you express a 30% markup?

• X - 0.30

• X + 0.30

• 1.30X

• 0.30X

What does the expression 1.30X represent in the context of the t-shirt sales?

• The markup amount only

• The selling price including markup

• The discount on the t-shirt

• The cost price of the t-shirt

How can the 7th graders determine the selling price of a t-shirt after markup?

• By dividing the cost by 1.30

• By subtracting 0.30 from the cost

• By multiplying the cost by 1.30

• By adding 0.30 to the cost

What does the yellow bar on the double number line represent?

• The cost of the t-shirt

• The markup percentage

• The total selling price

• The discount percentage

What is the first step in calculating the selling price with markup?

• Subtract the markup percentage from the cost

• Add the markup percentage to the cost

• Calculate the cost of production

• Determine the selling price

What is the final step in determining the selling price of a t-shirt?

• Add 0.30 to the cost

• Multiply the cost by 1.30

• Subtract the cost from the markup

• Divide the cost by 1.30