Calculating Prices and Discounts

The video tutorial discusses the popularity of Beanie Babies in the 1990s, focusing on a specific Beanie Baby named Gobbles. It explains how Gobbles' price fell by 20% this year, resulting in a current price of $750. The tutorial guides viewers through setting up and solving an equation to determine Gobbles' price last year, which was $937.50. The lesson concludes with a verification of the solution and emphasizes the importance of understanding percentage changes in prices.

What was the craze in the late 90s that involved collectible toys?

• Tamagotchis

• Beanie Babies

• Pogs

• Pokemon Cards

Which Beanie Baby is used as an example in the video?

• Snort the Bull

• Gobbles the Turkey

• Peanut the Elephant

• Princess the Bear

By what percentage did Gobbles' price fall this year?

• 15%

• 20%

• 25%

• 10%

What is the current price of Gobbles after the price drop?

• $900

• $750

• $600

• $500

What variable is used to represent last year's price of Gobbles?

• x

• y

• z

• p

How do you calculate a 20% price drop from a given price?

• Multiply by 0.2

• Subtract 0.2 from the price

• Add 0.2 to the price

• Multiply by 0.8

If a Beanie Baby originally costs $10 and its price falls by 50%, what is the new price?

• $10

• $7

• $5

• $2

What is the equation used to find last year's price of Gobbles?

• p - 0.8p = 750

• p + 0.8p = 750

• p + 0.2p = 750

• p - 0.2p = 750

What is the value of p when you solve the equation for last year's price?

• $850

• $800

• $900

• $937.50

Why should last year's price be higher than this year's price?

• Because the price was discounted

• Because the price fell

• Because the price remained the same

• Because the price increased