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Wholesale price: The price a retail store pays the manufacturer (original price) Markup:

Guided Notes - Markup. Date________________. Wholesale price: The price a retail store pays the manufacturer (original price) Markup: A percent or amount increase a retail store charges to earn a profit

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Wholesale price: The price a retail store pays the manufacturer (original price) Markup:

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  1. Guided Notes - Markup Date________________ Wholesale price: The price a retail store pays the manufacturer (original price) Markup: A percent or amount increase a retail store charges to earn a profit Retail price: The price at which a store sells items to customers (wholesale price + markup) To Find the Retail Price: Step 1: ______________ the wholesale price by the markup rate Step 2: ____________ the answer to the wholesale price to get the retail price Examples: 1) A computer software retailer used a markup rate of 40%. Find the selling price of a computer game that cost the retailer $25. 2) A store that sells skateboards buys them from a manufacturer at a wholesale price of $57. The store’s markup is 150%. What is the retail price? 4) 3) A store buys guitars from a manufacturer at a wholesale price of $38. The store’s markup is 85%. What is the retail price? 5) A $140 car stereo is marked up 50% and then discounted 50%. Will the final price of the car stereo be $140? Explain.

  2. To Find the Wholesale Price Use a proportion: Step 1: __________________ the markup percentage to 100 Step 2: Put the new percentage over _________________ Step 3: Always match up the wholesale price (x) with 100 1) A shoe store uses a 40% markup on cost. Find the wholesale price of a pair of shoes that sells for $63. 2) A bathing suit store uses an 80% markup on cost. Find the wholesale price of a bathing suit that sells for $40. To Find the Markup Rate Step 1: Write a ratio of retail to wholesale Step 2: Put the percentage (x) over _______________ Step 3: Always match up the wholesale price (x) with _______________ Step 4: _______________________the answer from 100 1) A golf shop pays its wholesaler $40 for a certain club, and then sells it to a golfer for $75. What is the markup rate? 2) A tennis shop pays its wholesaler $20 for a certain racket, and then sells it to a tennis player for $50. What is the markup rate? 3) A store buys an item for $20. To earn a profit of $30, what percent does the store need to markup the item? 4) A store buys an item for $10. To earn a profit of $20, what percent does the store need to markup the item?

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