The tale of a price

So today we practiced how to go from a wholesale price, to a retail price (adding the markup), to a sale price (subtracting the discount), to a final price (adding the sales tax). We also practiced finding the commission from the final price.

So- example. We are selling a monkey. We bought it for $200 (wholesale). We mark it up 20%.
20/100=x/200
100x=20x200
100x=4000
100 100
x=40

200+40=240 (retail price)

discount is 10%.
10/100=x/240
100x=240x10
100x=2400
100 100
x=24

240-24=216 (sale price)

sales tax is 8.25 %
8.25/100= x/216
100x= 8.25x216
100x=1782
100 100
x=17.82

216+17.82=233.82 (final cost).


Our salesperson earns a 12% commission.

12/100=x/233.82
100x=12x233.82
100x=2805.84
100 100
x=28.05

Our salesperson earns 28.05.

Tonight all you have to do is decorate the front of your project 2B. Come in tomorrow ready to do the math!

Ms V