managing your personal finances unit 7: computing discounts 1
TRANSCRIPT
Managing Your Personal FinancesUnit 7: Computing Discounts
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STANDARD 8.2
Students will be able to calculate discounts, double discounts and tips.
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Lesson Goals
I can calculate discounts. I can calculate double discounts. I can calculate tips.
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Calculating Discount…
Discount TermsOriginal Price The price the retailer originally thought he could sell the good or
service for (retail price).Sale Price The price at which the retailer hopes a consumer feels she “has” to
buy the good or service.Discount The percentage difference between the original and the sale price.Double Discount A discount on top of a discount.
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Calculating Discount…
Simple Discount-Working Together #1What is the Sale Price of a shirt originally $30.00 with a Discount of 10% off?Original Price - Discount (Original Price * Sale Percentage)
= Sale Price
Step 1. $30.00 * 10% = $3.00 Step 2. $30.00 - $3.00 =$27.00
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$ 30.00
- ___________
= $
Another way to calculate: 90% of $30.00 or
$30.00 * 90% = $27.00
Calculating Discount…
Simple Discount-Working Together #2What is the Sale Price of a shirt originally $50.00 with a Discount of 15% off?Original Price - Discount (Original Price * Sale Percentage)
= Sale Price
Step 1. $50.00 * 15% = $_________ Step 2. $50.00 - $______ =$_______
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$ 50.00
- ___________
= $
Another way to calculate: 85% of $50.00 or
$50.00 * 85% = $______
Calculating Discount…
Simple Discount-On Your Own #1What is the Sale Price of a shirt originally $60.00 with a Discount of 25% off?Original Price - Discount (Original Price * Sale Percentage)
= Sale Price
Step 1. $60.00 * 25% = $_________ Step 2. $60.00 - $______ =$_______
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$ 60.00
- ___________
= $
Another way to calculate: 75% of $60.00 or
$60.00 * 75% = $______
Calculating Discount…
Simple Discount-On Your Own #2What is the Sale Price of a pair of pants originally $29.99 with a Discount of 15% off?Original Price - Discount (Original Price * Sale Percentage)
= Sale Price
Step 1. $29.99 * 15% = $_________ Step 2. $29.99 - $______ =$_______
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$ 29.99
- ___________
= $
Another way to calculate: 85% of $29.99 or
$29.99 * 85% = $______
Calculating Discount…
Calculating the Percentage Discount-Working Together #1What is the Percentage Discount of a shirt that was originally priced at $40.00 and you paid $30.00?
% Discount =
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Price Original
Price New - Price Original
Discount %2500.40
00.3000.40$
Calculating Discount…
Calculating the Percentage Discount-Working Together #2What is the Percentage Discount of a shirt that was originally priced at $35.00 and you paid $27.00?
% Discount =
10
Price Original
Price New - Price Original
Discount %____00.35
00.2700.35$
Calculating Discount…
Calculating the Percentage Discount-On Your Own #1What is the Percentage Discount of a watch that was originally priced at $75.00 and you paid $65.00?
% Discount =
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Price Original
Price New - Price Original
Discount %_____________
__________$
Calculating Discount…
Calculating the Percentage Discount-On Your Own #1What is the Percentage Discount of a tie that was originally priced at $45.99 and you paid $38.99?
% Discount =
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Price Original
Price New - Price Original
Discount %_____________
__________$
Double Discount…Double Discounts are discounts on top of discounts. This is a technique used by retailers to convince consumers that they are getting a “really” good bargain.You will see signs like:
“Marked down twice” “Reduced for clearance” “Take an additional 10% off
at the register” “Discontinued Item”
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Calculating Double Discount…Double Discount-Working Together #1:What is the Sale Price for a jogging suit that originally costs $100.00 with 50% Discount and an additional 50% Discount.
Original Price- Discount = Sale Price- Additional Discount
= Double Discount Price
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OriginalPrice
x Sale 50% = Discount Sale Price (Original Price –Discount)
x Additional 50% offOf Sale Price
= New Price(Sale Price –
Additional Off)
$100.00 50% $50.00 $50.00 25.00 $25.00
$ 100.00
- $ 50.00
= $ 50.00
- $ 25.00
= $ 25.00
Calculating Double Discount…Double Discount-Working Together #2:What is the Sale Price for a jogging suit that originally costs $75.00 with 25% Discount and an additional 15% Discount.
Original Price- Discount = Sale Price- Additional Discount
= Double Discount Price
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OriginalPrice
x Sale 25% = Discount Sale Price (Original Price –Discount)
x Additional 15% offOf Sale Price
= New Price(Sale Price –
Additional Off)
$ 75.00
- $_____
= $_____ - $_____
= $_____
Calculating Double Discount…Double Discount-On Your Own #1:What is the Sale Price for a watch that originally costs $69.99 with 20% Discount and an additional 15% Discount.
Original Price- Discount = Sale Price- Additional Discount
= Double Discount Price
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OriginalPrice
x Sale 20% = Discount Sale Price (Original Price –Discount)
x Additional 15% offOf Sale Price
= New Price(Sale Price –
Additional Off)
$ 69.99
- $_____
= $_____ - $_____
= $_____
Calculating Double Discount…Double Discount-On Your Own #2:What is the Sale Price for a watch that originally costs $85.99 with 25% Discount and an additional 20% Discount.
Original Price- Discount = Sale Price- Additional Discount
= Double Discount Price
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OriginalPrice
x Sale 20% = Discount Sale Price (Original Price –Discount)
x Additional 15% offOf Sale Price
= New Price(Sale Price –
Additional Off)
$ 85.99
- $_____
= $_____ - $_____
= $_____
How Much Should You Tip at Restaurants?
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$ 100.00
* 15%
= $ 15.00
There are different rules for different kinds ofrestaurants and different levels of service. Generally, you should tip between 15-20% of the total bill (before taxes.)Working Together #1What is a reasonable tip to leave for a restaurant bill of $100 (if you had good service)?
How Much Should You Tip at Restaurants?
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$ 75.00
* 15%
= $______
On Your Own #1What is a reasonable tip to leave for a restaurant bill of $75.00 (if you had good service)?
How Much Should You Tip at Restaurants?
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$ 50.00
* 15%
= $_____
On Your Own #2What is a reasonable tip to leave for a restaurant bill of $50.00 (if you had good service)?