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Find the amount of mark-up and the list price.

Jim’s music store bought a guitar at original cost $1,200. Jim marked the price up 50%.

$600 $1,800

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Find the amount of mark-up and the list price.

The Auto Resale Store bought Pablo’s Toyota for $8,500. They marked the price up 35%.

$2,975 $11,475

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Key concepts

  • Percent Increase To find the percent increase:
    1. Find the amount of increase. increase = new amount original amount
    2. Find the percent increase. Increase is what percent of the original amount?
  • Percent Decrease To find the percent decrease:
    1. Find the amount of decrease. decrease = original amount new amount
    2. Find the percent decrease. Decrease is what percent of the original amount?
  • Simple Interest If an amount of money, P , called the principal, is invested for a period of t years at an annual interest rate r , the amount of interest, I, earned is
    I = P r t where I = interest P = principal r = rate t = time
  • Discount
    • amount of discount is discount rate · original price
    • sale price is original price – discount
  • Mark-up
    • amount of mark-up is mark-up rate · original cost
    • list price is original cost + mark up

Practice makes perfect

Translate and Solve Basic Percent Equations

In the following exercises, translate and solve.

What number is 45% of 120?

54

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What number is 65% of 100?

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What number is 24% of 112?

26.88

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What number is 36% of 124?

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250% of 65 is what number?

162.5

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150% of 90 is what number?

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800% of 2250 is what number?

18,000

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600% of 1740 is what number?

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28 is 25% of what number?

112

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36 is 25% of what number?

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81 is 75% of what number?

108

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93 is 75% of what number?

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8.2% of what number is $2.87?

$35

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6.4% of what number is $2.88?

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11.5% of what number is $108.10?

$940

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12.3% of what number is $92.25?

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What percent of 260 is 78?

30%

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What percent of 215 is 86?

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What percent of 1500 is 540?

36%

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What percent of 1800 is 846?

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30 is what percent of 20?

150%

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50 is what percent of 40?

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840 is what percent of 480?

175%

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790 is what percent of 395?

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Solve Percent Applications

In the following exercises, solve.

Geneva treated her parents to dinner at their favorite restaurant. The bill was $74.25. Geneva wants to leave 16% of the total bill as a tip. How much should the tip be?

$11.88

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When Hiro and his co-workers had lunch at a restaurant near their work, the bill was $90.50. They want to leave 18% of the total bill as a tip. How much should the tip be?

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Trong has 12% of each paycheck automatically deposited to his savings account. His last paycheck was $2165. How much money was deposited to Trong’s savings account?

$259.80

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Cherise deposits 8% of each paycheck into her retirement account. Her last paycheck was $1,485. How much did Cherise deposit into her retirement account?

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One serving of oatmeal has eight grams of fiber, which is 33% of the recommended daily amount. What is the total recommended daily amount of fiber?

24.2 g

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One serving of trail mix has 67 grams of carbohydrates, which is 22% of the recommended daily amount. What is the total recommended daily amount of carbohydrates?

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A bacon cheeseburger at a popular fast food restaurant contains 2070 milligrams (mg) of sodium, which is 86% of the recommended daily amount. What is the total recommended daily amount of sodium?

2407 mg

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Questions & Answers

differentiate between demand and supply giving examples
Lambiv Reply
differentiated between demand and supply using examples
Lambiv
what is labour ?
Lambiv
how will I do?
Venny Reply
how is the graph works?I don't fully understand
Rezat Reply
information
Eliyee
devaluation
Eliyee
t
WARKISA
hi guys good evening to all
Lambiv
multiple choice question
Aster Reply
appreciation
Eliyee
explain perfect market
Lindiwe Reply
In economics, a perfect market refers to a theoretical construct where all participants have perfect information, goods are homogenous, there are no barriers to entry or exit, and prices are determined solely by supply and demand. It's an idealized model used for analysis,
Ezea
What is ceteris paribus?
Shukri Reply
other things being equal
AI-Robot
When MP₁ becomes negative, TP start to decline. Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 • Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of lab
Kelo
Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 • Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of labour (APL) and marginal product of labour (MPL)
Kelo
yes,thank you
Shukri
Can I ask you other question?
Shukri
what is monopoly mean?
Habtamu Reply
What is different between quantity demand and demand?
Shukri Reply
Quantity demanded refers to the specific amount of a good or service that consumers are willing and able to purchase at a give price and within a specific time period. Demand, on the other hand, is a broader concept that encompasses the entire relationship between price and quantity demanded
Ezea
ok
Shukri
how do you save a country economic situation when it's falling apart
Lilia Reply
what is the difference between economic growth and development
Fiker Reply
Economic growth as an increase in the production and consumption of goods and services within an economy.but Economic development as a broader concept that encompasses not only economic growth but also social & human well being.
Shukri
production function means
Jabir
What do you think is more important to focus on when considering inequality ?
Abdisa Reply
any question about economics?
Awais Reply
sir...I just want to ask one question... Define the term contract curve? if you are free please help me to find this answer 🙏
Asui
it is a curve that we get after connecting the pareto optimal combinations of two consumers after their mutually beneficial trade offs
Awais
thank you so much 👍 sir
Asui
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities, where neither p
Cornelius
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities,
Cornelius
Suppose a consumer consuming two commodities X and Y has The following utility function u=X0.4 Y0.6. If the price of the X and Y are 2 and 3 respectively and income Constraint is birr 50. A,Calculate quantities of x and y which maximize utility. B,Calculate value of Lagrange multiplier. C,Calculate quantities of X and Y consumed with a given price. D,alculate optimum level of output .
Feyisa Reply
Answer
Feyisa
c
Jabir
the market for lemon has 10 potential consumers, each having an individual demand curve p=101-10Qi, where p is price in dollar's per cup and Qi is the number of cups demanded per week by the i th consumer.Find the market demand curve using algebra. Draw an individual demand curve and the market dema
Gsbwnw Reply
suppose the production function is given by ( L, K)=L¼K¾.assuming capital is fixed find APL and MPL. consider the following short run production function:Q=6L²-0.4L³ a) find the value of L that maximizes output b)find the value of L that maximizes marginal product
Abdureman
types of unemployment
Yomi Reply
What is the difference between perfect competition and monopolistic competition?
Mohammed
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Practice Key Terms 9

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Source:  OpenStax, Elementary algebra. OpenStax CNX. Jan 18, 2017 Download for free at http://cnx.org/content/col12116/1.2
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