Lesson 2: Pricing - Percent Increase or Decrease Shortcuts Practice

   Practice Makes Perfect


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Complete the following questions.


  1. Walmart sells a DVD player for $59.49. Calculate the GST to be paid on the DVD, and then determine the total cost of the DVD player.

    Hint:
    Calculating the cost of an item, including GST, means the cost will be 105% (100% + 5%) of the original price.
    To calculate the amount of GST paid, you need to subtract the original price from your answer.

  2. Alycia needs a new pair of glasses. The frames are on sale for 30% off. The original price of the frames is $229.00. What is the sale price of the frames, before GST?

    Hint:
    Calculating a 30% discount, before GST, means the price will be 70% (100% - 30%) of the original price.

  3. Jim owns a leather shop. He buys leather jackets from the manufacturer for $250 each. Then, he marks the jackets up 75% so he can sell them in his store for a profit. What is the price of the jackets in Jim's store?

    Hint:
    Calculating a 75% markup means the price paid will be 175% (100% + 75%) of the manufacturer's price.


Check your answers in the detailed solutions found here. Practice is important before you attempt the Chapter 2, Lesson 2 Assignment.



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