Application: Finding Markups and Discounts
Analyze finding markups and discounts in Grade 9 math — A discount results when a percent of decrease is applied to a cost. Part of Inequalities and Linear Systems for Grade 9.
Key Concepts
Property 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. New Price = Original Price + Markup New Price = Original Price Discount.
Examples A store buys a keyboard for 50 dollars and marks it up by 80%. The markup is $0.80 \cdot 50 = 40$ dollars. The new price is $50 + 40 = 90$ dollars. A 30 dollars hoodie is on sale for 20% off. The discount is $0.20 \cdot 30 = 6$ dollars. The new price is $30 6 = 24$ dollars.
Explanation Stores use markups to make a profit—they buy an item cheap and sell it for more! For you, a discount is awesome because it means a sale! You calculate the percentage of the original price and either add it (markup) or subtract it (discount) to find the final price. This is the math behind every price tag.
Common Questions
What is 'Finding Markups and Discounts' in Grade 9 math?
A discount results when a percent of decrease is applied to a cost. New Price = Original Price + Markup New Price = Original Price - Discount Property A markup results when a percent of increase is applied to a cost.
How do you solve problems involving 'Finding Markups and Discounts'?
New Price = Original Price + Markup New Price = Original Price - Discount Property 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.
Why is 'Finding Markups and Discounts' an important Grade 9 math skill?
The new price of the hat is 13.50 dollars.. This gives you the deal's true value—every calculation is real money saved!.