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Understanding Percent of Change and Markup

Learn the definitions and calculation methods for percent of change, percent of increase, and percent of decrease. Also, discover how to calculate markup and sale prices.

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Understanding Percent of Change and Markup

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  1. Lesson 5-7 Percent of Change

  2. Definitions • Percent of Change- A ratio of change that compares the change in quantity to the original amount. • Percent of Increase- When the new amount is greater than the original. • Percent of Decrease- When the new amount is less than the original.

  3. Example 1 Percent of Increase CLUBS: The Science Club had 25 members. Now it has 30 members. Find the percent of increase. = 0.2 or 20%

  4. Practice Problem Percent of Increase HOMES: The Nietos bought a house several years ago for $120,000. This year, they sold it for $150,000. Find the percent of increase. = 0.25 or 25%

  5. Example 2 Percent of Change Comic Books: Consuela had 20 comic books. She gave some to her friend. Now she has 13 comic books. Find the percent of change. State whether the percent f change is an increase or a decrease. = 0.35 or 35% Since the new amount is less than the original, it is a percent of decrease.

  6. Practice Problem Percent of Change SCHOOLS: Johnson Middle School had 240 students last year. This year, there are 192 students. Find the percent of change. State whether this percent of change is an increase or a decrease. = 0.2 or 20% Since the new amount is less than the original, it is a percent of decrease.

  7. Definitions • Markup - The increase in price. • Selling Price - Amount a customer pays for a product. • Discount - The amount a regular price is reduced.

  8. Example 3 Find the Selling Price Marketing: Shonny is selling some embroidered jackets on a Web site. She wants to price the jackets 25% over her cost, which is $35. Find the selling price for a jacket. p = 1.25(35) p = 43.75 The selling price of the jacket is $43.75

  9. Practice Problem Find the Selling Price Markup: Shirts bought by a sporting goods store cost them $20 per shirt. They want to mark them up 40 percent. What will be the selling price? p = 1.40(20) p = 28 The selling price of the shirt is $28

  10. Example 4 Find the Sale Price The Sport Chalet is having a sale. Find the sale price of a snowskate that is 35% off the regular price of $95 p = .65(95) p = 61.75 The selling price of the snowskate is $61.75

  11. Practice Problem Find the Sale Price A computer usually sells for $1,200. This week it is on sale for 30% off. What is the sale price? p = .70(1200) p = 840 The selling price of the computer is $840

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