Discounts and Markup Price PDF

Discounts and Markup Price LESSON 2 │ UNIT 2 LEARN DIFFERENT. LIVE DIFFERENT.  LPU LAGUNA HIGH SCHOOL DEFINITION LP...

Discounts and Markup Price LESSON 2 │ UNIT 2 LEARN DIFFERENT. LIVE DIFFERENT.  LPU LAGUNA HIGH SCHOOL DEFINITION LPU LAGUNA HIGH SCHOOL L E A R N D I F F E R E N T. L E A R N D I F F E R E N T. L I V E D I F F E R E N T. L I V E D I F F E R E N T. Percent increase It is the amount by which a value increases relative to its original value. The percent increase of a number can be computed by the formula No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L. No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L.  LPU LAGUNA HIGH SCHOOL Example 1 LPU LAGUNA HIGH SCHOOL L E A R N D I F F E R E N T. L E A R N D I F F E R E N T. L I V E D I F F E R E N T. L I V E D I F F E R E N T. Percent increase The salary of a person increased from ₱20,000 to ₱30,000. Thus, we say that his salary increased by 50%. No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L. No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L.  LPU LAGUNA HIGH SCHOOL Example 2 LPU LAGUNA HIGH SCHOOL L E A R N D I F F E R E N T. L E A R N D I F F E R E N T. L I V E D I F F E R E N T. L I V E D I F F E R E N T. Percent increase The price of a gadget increased from ₱5,000 to ₱7,500. Thus, we say that the price increased by __? No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L. No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L.  LPU LAGUNA HIGH SCHOOL DEFINITION LPU LAGUNA HIGH SCHOOL L E A R N D I F F E R E N T. L E A R N D I F F E R E N T. L I V E D I F F E R E N T. L I V E D I F F E R E N T. Percent decrease It is the amount by which a value decreases relative to its original value The percent decrease of a number can be computed by the formula No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L. No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L. LPU LAGUNA HIGH SCHOOL Example 1 LPU LAGUNA HIGH SCHOOL L E A R N D I F F E R E N T. L E A R N D I F F E R E N T. L I V E D I F F E R E N T. L I V E D I F F E R E N T. Percent decrease The profit of a store decreased from ₱10,000 to ₱8,000. Thus, we say that the profit decreased by __? No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L. No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L.  LPU LAGUNA HIGH SCHOOL Example2 LPU LAGUNA HIGH SCHOOL L E A R N D I F F E R E N T. L E A R N D I F F E R E N T. L I V E D I F F E R E N T. L I V E D I F F E R E N T. Percent decrease A company’s revenue dropped from ₱50,000 to ₱35,000. Thus, we say that the revenue decreased by ___? No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L. No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L. LPU LAGUNA HIGH SCHOOL Differentiate LPU LAGUNA HIGH SCHOOL L E A R N D I F F E R E N T. L E A R N D I F F E R E N T. L I V E D I F F E R E N T. L I V E D I F F E R E N T. DISCOUNT MARK-UP No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L. No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L.  LPU LAGUNA HIGH SCHOOL DEFINITION LPU LAGUNA HIGH SCHOOL L E A R N D I F F E R E N T. L E A R N D I F F E R E N T. L I V E D I F F E R E N T. L I V E D I F F E R E N T. Discount It is a reduction in the original price of an item. The discount amount is the amount to be reduced from the original price of an item, and the discount price is the price of the product after the discount is applied. No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L. No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L. LPU LAGUNA HIGH SCHOOL DEFINITION LPU LAGUNA HIGH SCHOOL L E A R N D I F F E R E N T. L E A R N D I F F E R E N T. L I V E D I F F E R E N T. L I V E D I F F E R E N T. Discount No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L. No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L.  LPU LAGUNA HIGH SCHOOL Example LPU LAGUNA HIGH SCHOOL L E A R N D I F F E R E N T. L E A R N D I F F E R E N T. L I V E D I F F E R E N T. L I V E D I F F E R E N T. Discount The dress costs ₱350. If a 20% discount coupon is used to buy the dress, then the discount price is ₱280. No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L. No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L.  LPU LAGUNA HIGH SCHOOL DEFINITION LPU LAGUNA HIGH SCHOOL L E A R N D I F F E R E N T. L E A R N D I F F E R E N T. L I V E D I F F E R E N T. L I V E D I F F E R E N T. Mark-up It is an increase in the original price of an item. The markup amount is the amount to be added to the original price of an item, and the selling price is the price of the product after the markup is applied. No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L. No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L.  LPU LAGUNA HIGH SCHOOL DEFINITION LPU LAGUNA HIGH SCHOOL L E A R N D I F F E R E N T. L E A R N D I F F E R E N T. L I V E D I F F E R E N T. L I V E D I F F E R E N T. Mark-up It is an increase in the original price of an item. The markup amount is the amount to be added to the original price of an item, and the selling price is the price of the product after the markup is applied. No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L. No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L. LPU LAGUNA HIGH SCHOOL DEFINITION LPU LAGUNA HIGH SCHOOL L E A R N D I F F E R E N T. L E A R N D I F F E R E N T. L I V E D I F F E R E N T. L I V E D I F F E R E N T. Mark-up No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L. No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L.  LPU LAGUNA HIGH SCHOOL Example LPU LAGUNA HIGH SCHOOL L E A R N D I F F E R E N T. L E A R N D I F F E R E N T. L I V E D I F F E R E N T. L I V E D I F F E R E N T. Mark-up A gallon of ice cream costs ₱80 to make, and a vendor wants to sell this product with a 30% markup. Thus, he should sell it for ₱104. No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L. No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L.  LPU LAGUNA HIGH SCHOOL Let’s try LPU LAGUNA HIGH SCHOOL L E A R N D I F F E R E N T. L E A R N D I F F E R E N T. L I V E D I F F E R E N T. L I V E D I F F E R E N T. A pair of shoes is sold for ₱2,500. If the store gives a 30% discount for the shoes, how much is the discounted price? Mina bought a laptop for ₱30,000. She wants to sell it for ₱37,500. What is the markup percent? No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L. No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L. LPU LAGUNA HIGH SCHOOL LPU LAGUNA HIGH SCHOOL L E A R N D I F F E R E N T. L E A R N D I F F E R E N T. L I V E D I F F E R E N T. L I V E D I F F E R E N T. In the Philippines, markup percentages range from 7–10% for regulated goods, 10–15% for most consumer goods, and more than 30% for high-end and luxury items. No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L. No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L.  LPU LAGUNA HIGH SCHOOL PRACTICAL APPLICATION LPU LAGUNA HIGH SCHOOL L E A R N D I F F E R E N T. L E A R N D I F F E R E N T. L I V E D I F F E R E N T. L I V E D I F F E R E N T. Understanding percentages and how to calculate discounts and marked-up prices is crucial in various real- life situations: Business: Business owners use markup to determine the selling price of products. Finance: Understanding percentages is essential for managing finances, such as calculating interest rates and discounts on loans. No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L.  LPU LAGUNA HIGH SCHOOL ASSIGNMENT LPU LAGUNA HIGH SCHOOL L E A R N D I F F E R E N T. L E A R N D I F F E R E N T. L I V E D I F F E R E N T. L I V E D I F F E R E N T. Bring any receipts available in your home. No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L. LPU LAGUNA HIGH SCHOOL Bridge to the Next Topic LPU LAGUNA HIGH SCHOOL L E A R N D I F F E R E N T. L E A R N D I F F E R E N T. L I V E D I F F E R E N T. L I V E D I F F E R E N T. 1. Aside from a markup, what are possible reasons why prices go up? 2. How might the concepts of discounts and markups be related to commissions and sales taxes? No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L. Commissions and Sales TaX LESSON 3 │ UNIT 2 LEARN DIFFERENT. LIVE DIFFERENT. Learning TARGETS At the end of this lesson, Define the concepts of commission and sales tax. Compute the commission and sales tax. Solve word problems involving commission and sales tax.  Have you ever wondered why some salesmen are so adamant about selling their products in malls, kiosks, or bazaars? In addition to wanting you to enjoy the best offers, they will also be rewarded if you make a purchase. These rewards are in the form of commissions. In this lesson, you will learn how to solve real-life problems involving commissions and sales tax. Furthermore, this lesson will help you discover how percentages, rates, and bases assist in solving problems related to commissions and sales tax. Essential questions How do commissions benefit salespeople, and how are they calculated? Essential questions How does sales tax affect the final cost of a product or service, and who ultimately pays it?  LPU LAGUNA HIGH SCHOOL DEFINITION LPU LAGUNA HIGH SCHOOL L E A R N D I F F E R E N T. L E A R N D I F F E R E N T. L I V E D I F F E R E N T. L I V E D I F F E R E N T. Commission It is a fee or percentage of a sale that someone receives as compensation for selling a product or service Finding the amount of commission is similar to finding the percentage. No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L. No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L.  LPU LAGUNA HIGH SCHOOL Example LPU LAGUNA HIGH SCHOOL L E A R N D I F F E R E N T. L E A R N D I F F E R E N T. L I V E D I F F E R E N T. L I V E D I F F E R E N T. Warren received a 5% commission for selling products worth ₱20,000. Thus, he earned a ₱1,000 commission for these products. No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L. No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L. LPU LAGUNA HIGH SCHOOL LPU LAGUNA HIGH SCHOOL L E A R N D I F F E R E N T. L E A R N D I F F E R E N T. L I V E D I F F E R E N T. L I V E D I F F E R E N T. Commissions are best computed based on the volume of sales that a salesperson sells, instead of individual products. For example, a salesperson sells ip 100,000 worth of products in a month. It follows that a percentage of the total sales that he/she makes will be part of his or her commission. No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L. No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L.  LPU LAGUNA HIGH SCHOOL DEFINITION LPU LAGUNA HIGH SCHOOL L E A R N D I F F E R E N T. L E A R N D I F F E R E N T. L I V E D I F F E R E N T. L I V E D I F F E R E N T. Sales Tax It is a a tax imposed by the government on the sale of goods and services Value-added tax (VAT) is a kind of sales tax. The seller pays this tax to the government, but it is the consumer who shoulders it. As of October 2023, VAT is set at 12%. No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L. No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L.  LPU LAGUNA HIGH SCHOOL Example LPU LAGUNA HIGH SCHOOL L E A R N D I F F E R E N T. L E A R N D I F F E R E N T. L I V E D I F F E R E N T. L I V E D I F F E R E N T. A 12% tax on a purchase of ₱5,000 is equal to ₱600. No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L. No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L.  LPU LAGUNA HIGH SCHOOL LPU LAGUNA HIGH SCHOOL L E A R N D I F F E R E N T. L E A R N D I F F E R E N T. L I V E D I F F E R E N T. L I V E D I F F E R E N T. In the Philippines, the value-added tax (VAT) is a form of sales tax on the sale, barter, exchange, or lease of goods ip or properties and services and on the importation of goods. As of October 2023, this tax is 12% of the gross selling price of goods or properties sold. Note that this tax is paid by the consumers. No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L. No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L.  LPU LAGUNA HIGH SCHOOL LPU LAGUNA HIGH SCHOOL L E A R N D I F F E R E N T. L E A R N D I F F E R E N T. L I V E D I F F E R E N T. L I V E D I F F E R E N T. There are also excise taxes, which are taxes on the production, sale, or consumption of commodities in the country. Some of these products are alcohol products, tobacco products, petroleum ip products, mineral and mineral products, automobiles, sweetened beverages, invasive cosmetic procedures, and other non-essential products. Note that the value-added tax applies to all sales, while excise tax applies to certain products only. No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L. No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L. LPU LAGUNA HIGH SCHOOL Let’s try! LPU LAGUNA HIGH SCHOOL L E A R N D I F F E R E N T. L E A R N D I F F E R E N T. L I V E D I F F E R E N T. L I V E D I F F E R E N T. No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L. No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L.  LPU LAGUNA HIGH SCHOOL let’s try LPU LAGUNA HIGH SCHOOL L E A R N D I F F E R E N T. L E A R N D I F F E R E N T. L I V E D I F F E R E N T. L I V E D I F F E R E N T. A 12% tax is added to a purchase of ₱1,400. How much will be the total payment? No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L. No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L.  LPU LAGUNA HIGH SCHOOL You try! LPU LAGUNA HIGH SCHOOL L E A R N D I F F E R E N T. L E A R N D I F F E R E N T. L I V E D I F F E R E N T. L I V E D I F F E R E N T. ABC Company offers a 5% commission for its sales agents who will sell ₱30,000 worth of products or more in one month aside from their monthly salary of ₱15,000. Patrick sold ₱32,000 worth of products in a month. How much would he receive in that particular month? No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L. No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L.  LPU LAGUNA HIGH SCHOOL PRACTICAL APPLICATION LPU LAGUNA HIGH SCHOOL L E A R N D I F F E R E N T. L E A R N D I F F E R E N T. L I V E D I F F E R E N T. L I V E D I F F E R E N T. Understanding commissions and sales tax is not only essential in math but also in real-life situations: Economics In economics, you will explore how taxes impact markets and consumer behavior. Business In business studies, you'll learn about pricing strategies and how commissions motivate sales teams. No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L. LPU LAGUNA HIGH SCHOOL wrap-up! LPU LAGUNA HIGH SCHOOL L E A R N D I F F E R E N T. L E A R N D I F F E R E N T. L I V E D I F F E R E N T. L I V E D I F F E R E N T. 1. What are commissions and why are they important in financial transactions? 2. How does the sales tax affect the total cost of items, and why is it essential to consider when making purchases? No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L. LPU LAGUNA HIGH SCHOOL Bridge to the Next Topic LPU LAGUNA HIGH SCHOOL L E A R N D I F F E R E N T. L E A R N D I F F E R E N T. L I V E D I F F E R E N T. L I V E D I F F E R E N T. 1. How can you apply the concept of percentages in investments? 2. How can understanding percentages help you in learning about simple interests? No part of this material may be copied of reproduced in whatever form without the express written permission of LPU-L.  Simple interests LESSON 4 │ UNIT 2 LEARN DIFFERENT. LIVE DIFFERENT.