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PERMISSION GRANTED BY SCHOLASTIC MATH TO REPRODUCE THIS PAGE FOR CLASSROOM USE ONLY. ©2015 BY SCHOLASTIC INC. Name FINDING DISCOUNTS In “Cronut Crazy” on page 14, you learned how to calculate the markup and markup percentage of retail items. Markups allow stores to make a profit on the items they sell. Sometimes a store will reduce the price of an item. A reduction in the original price is called a discount. The discount is the amount that is subtracted from the regular price of an item. EXAMPLE: A store is offering a 10% discount on a scarf that usually costs $25. What is the discount? • The discount will be 10% of 25. To find this number, first convert 10% to a decimal: 10% = 10 100 = 0.1 • Then multiply 25 by 0.1: 25 5 0.1 = 2.5 The discount is $2.50, which is 10% of $25. Use this information to find the discount in each of the following questions. JANUARY 12, 2015 Financial Literacy www.scholastic.com/math Where Math Gets Real 1 A store is offering a 25% discount on a pair of gloves that originally cost $12. What is the discount? 2 During a winter sale at the store, customers receive a 30% discount if they buy a pair of gloves ($12), a hat ($8), and a scarf ($25) together. What is the total discount on these items? 3 A. During the same sale as in question No.2, customers receive a 20% discount if they buy a pair of gloves and hat together. What will be the total discount on these items? B. How much will customers pay for the pair of gloves and hat after the discount? 4 A parka that originally cost $150 is on sale at a 15% discount. How much will the parka cost after the discount? 5 After a 10% discount, a pair of snow boots costs $50. What was the original cost of the boots? (Hint: Set up an expression using the variable x to represent the original cost.)
