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HorseCrazyGirlForever
A warehouse club allows non members to shop, but charges them a 10% mark up on all items purchased. If a computer costs $549.99 for members, what is the non member price?
Ok, I'd start by changing 549.99 to 550$ A tad easier that way
Ok, so the problem states that 550$ is the normal price, for members. If nonmembers are charged 10% more, that means they pay 110% total. Do you understand why?
Alright, let me try a different tactic then...
First, multiply the member price, 550$ by 10%
Did you hit percent?
10% is not the same as 10
Drop one more zero. 55
How would I get that on a calculator?
Do you have a percent button? If not, you can also use .10 for 10%
No. I will try using the decimal. I got 55
Ok, excellent! 55 is 10% of 550. So, if you add 55 to the original price of 550, you get the 10% markup, your final answer. Try that, I'll be back in a minute
Pure awesomeness! The next question was should a member join the club prior to purchasing the computer if the fee is $40. I said yes.
That's right as well
Do you understand why .10 is equal to 10%?
To cover his expenses, Denny marks the price of each item 30% more than his purchase price. What does Denny charge for items that cost him $1.04, $7.23, $9.99 and $42.77?
Ok, before I give you a hint, try to get the first. 1.04$
What do you mean?
Each item is marked up 30%, so there are four answers here
Remember on the last problem, you multiplied the original price by .1, for 30%, what would you use?
Division?
$3.33 is that the answer?
Hmm, let me see if I can teach you a short way to do this. So you remember in the last problem, you used .10 for 10%?
You need to use 30% in this, so what decimal would you use?
Good. Now he's a little trick. 50% is .50, 85% is .85, and 100% is actually 1
If you add your markup decimal (.30) to 1, you get 1.3 Right?
Where did the one come from?
Because the original price is 100% of itself, it's a bit complicated. Point is, if you take that 1.3 and multiply it by each of those prices, you get the correct answer
$1.04, $7.23, $9.99 and $42.77 Multiply each by 1.3 on your calculator
1.34 9.40 12.99 55.60
Now let me go back and show you something
A warehouse club allows non members to shop, but charges them a 10% mark up on all items purchased. If a computer costs $549.99 for members, what is the non member price?
You have a 10% Markup here, so take that .10, and add it to 1, like we did just now
Right, now multiply that by 550. Seem familiar? :)
When Denny has a sale he marks the price 15% more than his purchase price. What is the price of each the above items?
Yep, that trick works for every price mark up problem!
Wait! Please help me with the first one.
Sure, what do you need? Although I need to go kinda soon
Ok I just need help with like the first two of this problem.When Denny has a sale he marks the price 15% more than his purchase price. What is the price of each the above items?
Same prices as before? $1.04, $7.23, $9.99 and $42.77?
Ok, same trick as before 15% = .15 .15+1=1.15 1.15 x 1.04$ = 1.19 $ 1.15 x 7.23$ = 8.31$ 1.15 x 9.99$ = 11.49$ 1.15 x 42.77$ = 49.19$
You have helped me so much! Thank you so much!
You are very welcome. Good luck with your studies!