Here's the solution to each problem, with step-by-step explanations:
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1. A video game costs $48.95. The store is to sell for $56.40. What is the markup?
✔ Solution:
Markup = Selling Price – Cost Price
= $56.40 – $48.95
=
$7.45
📌 *Explanation:* Markup is the amount added to the cost price to get the selling price.
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2. Sam Rodriguez signs a contract worth $300 million over the course of eight years. He again receives 5% commission. How much money does he earn?
✔ Solution:
Commission = 5% of $300,000,000
= 0.05 × 300,000,000
=
$15,000,000
📌 *Explanation:* Commission is a percentage of the total value of the contract.
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3. Mary needs to pay $4,800.00 in taxes for her first year as a nurse. She earns $40,000.00 per year. What percent of her income goes to taxes?
✔ Solution:
Percent = (Tax Amount / Income) × 100
= ($4,800 / $40,000) × 100
= 0.12 × 100
=
12%
📌 *Explanation:* To find what percent one number is of another, divide and multiply by 100.
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4. The price of a movie ticket is $6. The new price to see a movie is $7.50. What is the percent increase of a movie ticket?
✔ Solution:
Increase = New Price – Old Price = $7.50 – $6.00 = $1.50
Percent Increase = (Increase / Original Price) × 100
= ($1.50 / $6.00) × 100
= 0.25 × 100
=
25%
📌 *Explanation:* Percent increase is calculated based on the original amount.
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5. A new iPad costs $1,250.00. The iPad is on sale for 10% off and it carries an 8% sales tax. What is the final cost of the iPad?
✔ Solution:
Step 1: Calculate discount
10% of $1,250 = 0.10 × 1,250 = $125
Sale Price = $1,250 – $125 =
$1,125
Step 2: Calculate sales tax
8% of $1,125 = 0.08 × 1,125 =
$90
Step 3: Final Cost = Sale Price + Tax
= $1,125 + $90 =
$1,215
📌 *Explanation:* First apply the discount, then add tax to the discounted price.
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6. If Emily’s restaurant bill is $63.75, she wants to leave a gratuity of 15%. How much should she leave?
✔ Solution:
Gratuity = 15% of $63.75
= 0.15 × 63.75
=
$9.5625 ≈ $9.56 (rounded to nearest cent)
📌 *Explanation:* Gratuity (tip) is a percentage of the total bill.
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7. A car equipment maker, TIC, manufactures all the seats of each car. If it can be said that on average of $6,000.00, how much would each seat cost if there are 5 seats per car?
✔ Solution:
Cost per seat = Total cost ÷ Number of seats
= $6,000 ÷ 5
=
$1,200
📌 *Explanation:* Divide total manufacturing cost by number of seats to get cost per seat.
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8. The price of an air conditioner was originally $450. After three years, the air conditioner is worth $180. Find the percent decrease in the value of the air conditioner.
✔ Solution:
Decrease = Original Price – New Price = $450 – $180 = $270
Percent Decrease = (Decrease / Original Price) × 100
= ($270 / $450) × 100
= 0.6 × 100
=
60%
📌 *Explanation:* Percent decrease is based on the original value.
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✔ Final Answers Summary:
1.
$7.45
2.
$15,000,000
3.
12%
4.
25%
5.
$1,215
6.
$9.56
7.
$1,200
8.
60%
Let me know if you’d like these formatted for a worksheet or need visual diagrams!
Parent Tip: Review the logic above to help your child master the concept of 8th grade percent worksheet.
