AIM: How can we write equations to model percent problems?
HW: Bring in 5 pictures of items to sell for upcoming project
Sally's School Supplies buys products from manufacturers, marks them up 125%, and then sells them to customers. If the backpack costs Sally $34, how much should the selling price be? Explain your reasoning.
Classwork: In previous classes, we learned to find the selling price of an item by finding the markup, and then adding the markup to the cost of the item. Today, we learned that we can add the markup percent to 100% (which represents the buying percent), then multiplying by that amount to get the selling price.
Solution to the Do Now: 100% + 125% = 225%, which written as a decimal is 2.25
34 x 2.25 = $76.50.
The bag should sell for $76.50