Page 310 - Algebra 1

A markup results when a percent of increase is applied to a cost. A discount results when a percent of decrease is applied to a cost.
Finding Markups and Discounts
a. A music store marks up the price of CDs they purchased at $9.00 each by 70%. What is the markup and new price of each CD?
SOLUTION
70% is a percent of increase in the $9.00 cost.
n = 0.70 · $9 Use an equation to find 70% of $9. n = $6.30
The markup is $6.30.
$9 + $6.30 = $15.30 Add the markup to the original price.
The new price of each CD is $15.30.
b. A bookstore is having a sale of 40% off all items. What is the discount and new price of a book that originally cost $12?
SOLUTION
40% is a percent of decrease in the $12 cost. What is 40% of $12?
Example
2
Math Reasoning
Analyze Why does the pen-and-pencil set cost 60% of the original price if the discount is 40%?
0.40 · $12 = n
n = $4.80
The discount is $4.80. $12 - $4.80 = $7.20
Use an equation to find 40% of $12.
Subtract the discount from the original price to find the new price, $7.20.
The new price of the book is $7.20.
Application: Raising Funds
In 2006, the 100 Mile BEADS Walkathon for Education, Advancement, Development, and Success raised $36,000 for girls in Africa. The organizers hope to raise $100,000 in 2007. What will be the percent of increase in the amount raised?
SOLUTION
Example
3
36,000 original amount
100,000 - 36,000 = 64,000 Find the amount of increase.
64,000 ≈ 1.78 amount of increase ___
36,000 original amount
= 178% Write the decimal as a percent.
The percent of increase is 178%.
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