Discussion Topic When calculating the cost of a good or service, you often have to consider price
markups and discounts. Consider these two statements regarding a discounted item
• The list price of the item is 80 percent of the original price,
• The price of the item has been reduced by 80 percent
Write a pair of linear equations using variables of your choice to prove that these two
statements are not equivalent. Explain how a calculation for change in percentage
(increase or decrease) is different from a calculation that involves multiplying by
percentages. Why is the wording of percentage problems so important? Give examples
to illustrate your point.