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