Mark Up
Explain the concept of markup in pricing.
Multiply the dollar amount by the percent and add it to the dollar amount.
A markup is added to the cost of an item so that a company can make an income.
How do you calculate a markup.
Multiply by percent and subtract from original. A markdown is a sale or discount on an item.
How is sales tax calculated? For example, how would you calculate a 5% sales tax on a shirt?
Take the cost of the shirt and multiply it by 1.05 to get the new total.
OR take the cost of the shirt and multiply it by .05, then add to your answer to the price of the shirt.
How is a tip calculated? For example, how would you add a 20% tip to your bill?
Multiply your bill by 1.20.
OR multiply your bill by .20 and add your answer to the bill.
Every time Jackey talks he owes Mrs. Peterson 25 cents. By the end of the first quarter, Jackey owed Mrs. Peterson $50. By the end of the second quarter, Jackey owed Mrs. Peterson 25% more than the first quarter. How much money does Jackey owe?
50 x 1.25 = 62.50
OR 50 x .25 = 12.50 + 50 = 62.50
The school is selling our broken chromebooks... If a Chromebook is marked down by 85% from it's original price of $300, what is the selling price?
300 x .15 = $45
OR 300 x .80 = 255, 300-255= $45
Mrs. Peterson is buying Easton's Talking Zapper, so that she can zap him whenever he interrupts class. He is selling the Zapper for $80, but there is an 8% sales tax. How much does she have to pay overall?
80 x 1.08 = $86.40
OR 80 x .08 = 6.40, 80 + 6.40 = $86.40
Michael and his besties went to Scooters for coffee on their way home from a math study session. Their drinks cost $25. They loved their barista and tipped her 15%. What was the total cost of their bill?
25 x 1.15 = $28.75
OR 25 x .15 = 3.75, 3.75 + 25 = $28.75
(This is a hypothetical situation - I don't actually know how much supplies cost! Also, your answer will not be $5 :)
Refreshers can be made for $2.50 a cup, but for the fundraiser the school is marking up the price 40%. What is the selling price?
2.50 x 1.40 = $3.50
OR 2.50 x .4 = 1 + 2.50 = $3.50
Mrs. Peterson bought a shirt on Etsy that says "It's always a good day to do math!" It was originally $30 but was discounted 20%. How much did she spend on the shirt?
30 x .80 = $24
OR 30 x .2 = 6, 30 - 6 = $24
Mrs. Peterson is taking her niece to Disney on Ice to see Elsa! Tickets cost $80 with a sales tax of 7.25%. What is the total cost including tax for just one ticket?
80 x 1.0725 = $85.80
OR 80 x .0725 = 5.80 + 80 = $85.80
Athena has just started working at Subway! The whole 7th grade class went to visit her at work and ordered meals totaling: $872.65. The 7th grade teachers also wanted to include a 20% tip, what will be the total cost after tip?
872.65 x 1.2 = $1,047.18
OR 872.65 x .2 = 174.53 + 872.65 = $1,047.18
The basketball team is going to state! They are selling jerseys to their fans for a markup of 30% (so they can use the profits for a pizza party and for travel expenses). If the original price of a jersey is $40, how much will the jersey cost after the markup?
40 x 1.30 = $52
OR 40 x .30 = 12 + 40 = $52
Bennett decided to sell his favorite hat - because he's giving up on his team! He bought it for $45 and marked down the price 95%, what is his final selling price?
45 x .05 = $2.25
OR 45 x .95 - 42.75, 45 - 42.75 = $2.25
Maddie wants to join a Fortnite competition. You must pay $25 dollars to join the competition (the winner gets everyone's money!). Upon checking out, she also has to pay a 9% sales tax. What is her total bill?
25 x 1.09 = $27.25
OR 25 x .09 = 2.25 + 25 = $27.25
Lily bought ice cream for Mrs. Peterson for helping her on her work. She spent $5 and wanted to leave a 12.5% tip because she thought the waitress was skibbidi. How much did Lily pay overall?
5 x 1.125 = $5.63
OR 5 x .125 = .625 + 5 = $5.63
Mrs. Peterson's Study Hall wants to Door Dash Dairy Queen on the last day of school. Since the drive is so far away, Door Dash requests a 30% markup fee to cover the cost of delivery and tip. What is the final cost if the original bill was $72?
72 x 1.30 = 93.60
72 x .30 = 21.60 + 72 = 93.60
During spring break, Uriah went to a water park and had to buy sunscreen. Luckily, the sunscreen was 15.5% off. If the sunscreen originally cost $12.75 How much did he buy it for?
12.75 x .845 = 10.77
OR 12.75 x .155 = 1.98
12.75 - 1.98 = 10.77
Lexi is a #swiftie and had to buy a shirt for her concert in Indy! The t-shirt she bought was $55.75, but included an 8% sales tax. How much did she spend in total?
55.75 x 1.08 = 60.21
OR 55.75 x .08 = 4.46
55.75 + 4.46 = 60.21
Matt didn't want to carry his luggage upstairs at the hotel. He paid the bus boy 30% of his hotel fee as a tip. If his hotel fee was $120 what did he pay overall?
120 x 1.3 = 156
OR 120 x .3= 36 + 120 = 156