APPLICATIONS OF PERCENT WORKSHEET

About "Applications of percent worksheet"

Applications of percent worksheet :

Worksheet on applications of percent is much useful to the students who would like to practice solving problems on percentage. 

Applications of percent worksheet - Problems

1.  Marcus buys a varsity jacket from a clothing store in Anaheim. The price of the jacket is $80 and the sales tax is 8%. What is the total cost of the jacket ?

2.  Terry deposits $200 into a bank account that earns 3% simple interest per year. What is the…total amount in the account after 2 years ?

3.  To make a profit, stores mark up the prices on the items they sell. A sports store buys skateboards from a supplier for s dollars. What is the retail price for skateboards that the manager buys for $35 and $56 after a 42% markup ?

4. A discount store marks down all of its holiday merchandise by 20% off the regular selling price. Find the discounted price of decorations that regularly sell for $16 and $23.

5. A computer store used a markup rate of 40%. Find the selling price of a computer game that cost the retailer $25.

Applications of percent worksheet - Solution

Problem 1 : 

Marcus buys a varsity jacket from a clothing store in Anaheim. The price of the jacket is $80 and the sales tax is 8%. What is the total cost of the jacket ?

Solution : 

Step 1 :

Use a bar model to find the amount of the tax.

Draw a bar for the price of the jacket, $80. Divide it into 10 equal parts. Each part represents 10% of $80, or $8.

Then draw a bar that shows the sales tax: 8% of $80.

Because 8% is 4/5 of 10%, the tax is 5/4 of one part of the whole bar.

Each part of the whole bar is $8.

So, the sales tax is 5/4 of $8.

4/5 × $8 = $6.40

The sales tax is $6.40.

Step 2 : 

To find the total cost of the jacket, add the price of the jacket and the sales tax.

Jacket price + Sales tax = Total cost

$80 + $6.40  =  $86.40

Hence, the total cost of the jacket is $86.40

Problem 2 : 

Terry deposits $200 into a bank account that earns 3% simple interest per year. What is the…total amount in the account after 2 years ?

Solution : 

Step 1 :

Find the amount of interest earned in one year. Then calculate the amount of interest for 2 years. 

Write 3% as a decimal : 0.03

Interest rate x Initial deposit  =  Interest for 1 year

0.03 x $200  =  $6

Interest for 1 year x 2 years  =  Interest for 2 years

$6 x 2  =  $12

Step 2 :

Add the interest for 2 years to the initial deposit to find the total amount in his account after 2 years.

Initial deposit  +  Interest for 2 years  =  Total

$200 + $12  =  $212

Hence. the total amount in the account after 2 years is $212.

Problem 3 :

To make a profit, stores mark up the prices on the items they sell. A sports store buys skateboards from a supplier for s dollars. What is the retail price for skateboards that the manager buys for $35 and $56 after a 42% markup ?

Solution : 

Step 1 : 

Use a bar model.

Draw a bar for the cost of the skateboard S.

Then draw a bar that shows the markup: 42% of S, or 0.42S.

These bars together represent the cost plus the markup.

That is

S + 0.42S

Step 2 :

Retail price = Original cost + Markup

= S + 0.42S

= 1S + 0.42S

= 1.42S

Step 3 : 

Use the expression to find the retail price of each skateboard.

S  =  $35 ----> Retail price  =  1.42($35)  =  $49.70

S  =  $56 ----> Retail price  =  1.42($56)  =  $79.52

Problem 4 : 

A discount store marks down all of its holiday merchandise by 20% off the regular selling price. Find the discounted price of decorations that regularly sell for $16 and $23.

Solution : 

Step 1 : 

Use a bar model.

Draw a bar for the regular price P.

Then draw a bar that shows the discount: 20% of P, or 0.2P.

The difference between these two bars represents the price minus the discount.

That is,

P - 0.2P

Step 2 :

Sale price  =  Original price - Markdown

=  p - 0.2p

=  1p - 0.2p

=  0.8p

Step 3 :

Use the expression to find the sale price of each decoration.

p  =  $16 --->  Sale price  =  0.8($16)  =  $12.80

p  =  $23 --->  Sale price  =  0.8($23)  =  $18.40

Problem 5 : 

A computer store used a markup rate of 40%. Find the selling price of a computer game that cost the retailer $25.

Solution : 

Selling price (S.P) = (100+M)% x C.P

Here, M = 40, C.P = $25

Then, S.P = (100 + 40)% x 25

S.P = 140% x 25

S.P = 1.4 x 25  =  $35

Hence, the selling price is $35.

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