Pre Algebra Periods 1, 2, & 4

Mark Up and Discount 6-9

MARKUP = how much you want to make on selling something Then add the markup to get what you want to sell that item for.
EX: you want to make 75% of what you paid (.75)(your cost)
You paid $100 for an ipod. (.75)($100)=$75 markup. So you want to sell it for $175!

DISCOUNT = sales price This is similar to above, but this time you will SUBTRACT (not add)
A jacket that was $100 is 35% off. (.35)($100) = $35. Sales price = $100 - $35 = $65

MARKUP = a % of INCREASE and
DISCOUNT = a % of DECREASE!

MARKUP = % OF INCREASE
EX: Your cost = $50 and your markup = $100. What is your MARKUP %? (% of increase?)
markup = increase
$100 (increase on cost)/$50 (original) = 2 = 200% markup (selling price = $50 + $100 = $150)

DISCOUNT = % OF DECREASE
EX: original price = $200 and sales price = $50. What is the DISCOUNT %? (% of decrease?)
Decrease or discount = $200 - $50 = $150
$150 decrease/$200 original = 3/4 = 75% Discount %