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Percent Applications

Percent Applications. Target: Solve problems involving mark-ups , discounts , tips and sales tax. Warm-Up. Solve the proportion: . Find the percent of change. 50 to 40 18 to 20. Mark-up : Increase the price Discount : Decrease the price Sales Tax :

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Percent Applications

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  1. Percent Applications Target: Solve problems involving mark-ups, discounts, tips and sales tax.

  2. Warm-Up • Solve the proportion: . Find the percent of change. • 50 to 40 • 18 to 20

  3. Mark-up: Increase the price • Discount: Decrease the price • Sales Tax: Tax added to the cost of an item The amount added is a percent of the original amount as determined by the government (state or city)

  4. Example 1 A pawn shop owner buys a ring for $75 and sells it at an 80% mark-up. Find how much the ring sold for. • Method 1: Proportions • Method 2: Percent Equation • x = 80%·75 • x = 0.8·75 • x = 60 • Method 3: Percent of Increase • The markup is $60. The total price is 60 + 75 = $135.

  5. Example 2 Sesily found an outfit that is 20% off the original price of $68. Find the discounted price of the outfit. • Method 1: Proportions • Method 2: Percent Equation • x = 20%·68 • x = 0.2·68 • x = 13.6 • Method 3: Percent of Increase • The discount is $13.60. The sale price is 68 – 13.60 = $54.40.

  6. Example 3a Leah bought a new stereo in Seattle, Washington for $250. Find the actual amount she paid at the checkout if she was charged the state sales tax of 6.5%. • Find 6.5% of $250. • Use the percent equation. x = 0.065·250 x = 16.25 • Add the tax to the total 16.25 + 250 = $266.25 • Leah would pay $266.25 for the stereo.

  7. Example 3b Leah bought a new stereo in Seattle, Washington for $250. Find the actual amount she paid at the checkout if she was charged the city and state tax combined of 8.45%. • Find 8.45% of $250. • Use the percent equation. x = 0.0845·250 x = 21.125 • Round to nearest cent. x ≈ 21.13 • Add the tax to the total 21.13 + 250 = $271.13 • Leah would pay $271.13 for the stereo.

  8. Find each selling (final) price. • original price: $20.00percent of markup: 15% • original price: $16.00percent of discount: 30%

  9. Communication Prompt What is something that has had a percent increase of more than 100% in your lifetime?

  10. Lesson 19 Proportionality Percent Applications

  11. Example 4 Roy paid $8.05 for an antique model truck. It was on sale for 30% off. Find the original price of the model truck. • Roy paid 100% – 30% = 70% of the price. • Let x = original price. Write a proportion. • Use cross products to solve. 70x = 805 x = 11.5 • The model truck was originally $11.50.

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