Transcript Fractional Markdowns, Markups, Commissions and Fees

FRACTIONAL
MARKDOWNS AND
MARKUPS
Example 1: Bargains
A retail clothing store advertises the following sale: Shirts are 1/2 off the original
price; pants are 1/3 off the original price, and shoes are 1/4 off the original price
(called the discount rate).
a. If a pair of shoes cost $40 and is advertised at 1/4 off the original price, what is
the sales price?
Hint: Discount price = original price – rate × original price OR (1 - rate) × original price
Method one: 40 −
1
4
Method two: 1 −
1
4
(40) = 40 − 10 = $30
40 =
3
4
40 = $30
Bar Diagrams
a. If a pair of shoes cost $40 and is advertised at 1/4 off the original
price, what is the sales price?
𝟏
off the original price is $𝟑𝟎.
𝟒
$𝟒𝟎 ÷ 𝟒 = $𝟏𝟎
3($𝟏𝟎) = $𝟑𝟎
Example 2: Bargains
You Try:
At Macy’s a pair of pants that usually sell for $33.00. If Macy’s advertises
1
that the store is having off sale, what is the sale price of the pants?
3
Method one: 33 −
1
3
33 = 33 − 11 = $22
1 2
𝐌𝐞𝐭𝐡𝐨𝐝 𝐭𝐰𝐨: 1 − =
3 3
𝟐
𝟑
2
33 = $22.00
3
The consumer pays of the original price.
Bar Diagrams
At Macy’s a pair of pants that usually sell for
$33.00. If Macy’s advertises that the store is
1
having off sale, what is the sale price of the
3
pants?
$𝟑𝟑 ÷ 𝟑 = $𝟏𝟏
𝟐($𝟏𝟏) = $𝟐𝟐
Example 4: Born to Ride
A motorcycle dealer took in a motorcycle and for $15,000 and marked it up by
1
5
of the price on his lot. What is the retail price at the dealership?
Hint: Markup price = original price + rate × original price
Method one: 15000 +
1
5
OR
(1 + rate) × original price
15000 = 15000 + 3000 = $18,000
1 6
𝐌𝐞𝐭𝐡𝐨𝐝 𝐭𝐰𝐨: 1 + =
5 5
6
15000 = $18,000
5
Example 4: Born to Ride
A motorcycle dealer
took in a motorcycle
and for $15,000 and
1
of
5
marked it up by
the price on his lot.
What is the retail
price at the
dealership?
Bar Diagram
Markup
$3000 $3000 $3000 $3000 $3000 $3000
Original
$𝟏𝟓, 𝟎𝟎𝟎 ÷ 𝟓 = $𝟑𝟎𝟎𝟎
$𝟏𝟓, 𝟎𝟎𝟎 + $𝟑𝟎𝟎𝟎 = $𝟏𝟖, 𝟎𝟎𝟎
You Try:
Example 5: Shopping
1
2
A store buys a pair of jeans at wholesale for $31. They mark it up by of the
price. What is the retail price of the jeans?
Hint: Markup price = original price + rate × original price
Method one: 31 +
1
2
OR
(1 + rate) × original price
31 = 31 + 15.50 = $$46.50
1 3
𝐌𝐞𝐭𝐡𝐨𝐝 𝐭𝐰𝐨: 1 + =
2 2
3
31 = $46.50
2
Example 4: Born to Ride
A store buys a pair of
jeans at wholesale for
$31. They mark it up
1
of
2
by
the price.
What is the retail
price of the jeans?
Bar Diagram
Markup
$15.50 $15.50 $15.50
Original
$𝟑𝟏 ÷ 𝟐 = $𝟏𝟓. 𝟓𝟎
$𝟑𝟏 + $𝟏𝟓. 𝟓𝟎 = $𝟒𝟔. 𝟓𝟎
PRACTICE:
•MARKUP AND MARKDOWN WORKSHEET