Percents And Probability Worksheet With Answers - Lesson 12-19 Page 39
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49Percent aPPlicatiOns
Lesson 19
A
mark-up
is an increase from the amount of money a store pays for an item (wholesale price) to the
amount it sells the item for (retail price). To fi nd the percent of mark-up on an item,
fi nd the percent of increase. A
discount
is the decrease in the price of an item aft er it
goes on sale. To fi nd the percent of discount on an item, fi nd the percent of decrease.
A pawn shop owner buys a ring for $75 and sells it at an
examPle 1
80% mark-up. Find how much the ring sold for.
s
Use proportions, the percent equation or percent of increase to fi nd the mark-up.
olution
◆ Th e mark-up is the “part. ”
◆ Th e original amount is the “whole. ”
Proportions
Percent equation
Percent of Change
80
= x
0.8 = x
← Mark-up
← Mark-up
____
___
___
100
75
← Original Amount
← Original Amount
75
x = 80% ∙ 75
Use cross products. 100x = 6000
Convert to a decimal.
Multiply by 75.
75 ∙ 0.8 = x __
x = 0.8 ∙ 75
Divide by 100.
x = 60
∙ 75
75
x = 60
Simplify.
60 = x
Th e mark-up is $60.
Th e mark-up is $60.
Th e mark-up is $60.
Th e mark-up is $60. Th e owner sold the ring for $75 + $60 = $135.
Th e ring sold for $135.
examPle 2
sesily found an outfi t that is 20% off of the original price of $68.
Find the discounted price of the outfi t.
s
◆ Th e discount is the “part. ”
olution
◆ Th e original amount is the “whole. ”
Proportions
Percent equation
Percent of Change
x = 20% ∙ 68
20
x __
x __
← Discount
← Discount
___
=
=
0.2
Convert to a decimal.
← Original Amount
100
68
← Original Amount
68
x = 0.2 ∙ 68
Multiply by 68.
Use cross products. 100x = 1360
68 ∙ 0.2 = x __
∙ 68
x = 13.6
Divide by 100.
68
Simplify. x = 13.6
x
13.6 =
Th e discount is $13.60.
Th e discount is $13.60.
Th e discount is $13.60.
Th e discount is $13.60. Th e new price for the outfi t is $68 − $13.60 = $54.40.
Th e outfi t costs $54.40 on sale.
109
Lesson 19 ~ Percent Applications
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