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Applications of Percent

Applications of Percent. Section 3.11 & 3.12. DMA 030. Percent Increase or Decrease. To find the percent increase or decrease: Subtract the smaller number from the larger to find the amount of increase or decrease.

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Applications of Percent

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  1. Applications of Percent Section 3.11 & 3.12 DMA 030

  2. Percent Increase or Decrease • To find the percent increase or decrease: • Subtract the smaller number from the larger to find the amount of increase or decrease. • Find what percent the amount of increase or decrease is of the original amount.

  3. Example (Percent Increase) • Refer to the table below and find the percent increase in the number of news/talk radio stations from 2004 to 2011. Subtract to find the difference b/w the two years 1,453 – 1,285=168 2. Percent Equation Method 168 is what percent of 1,285 168 = x · 1285 x = 0.13 Percent Increase is 13% NOTE: percent of increase(decrease) is a percent of the original number before the change occurred.

  4. Example (Percent Decrease) • A college student’s good grades earned her a student discount on her car insurance premium. Find the percent of decrease if her annual premium was lowered from $1,050 to $924. $1,050 - $924 = 126 126 is what percent of $1,050 126 = x · $1,050 x= 0.12 x = 12%

  5. Sales Tax • The sales tax on an item is a percent of the purchase price of the item Sales tax = sales tax rate · purchase price Amount = percent · base

  6. Example • Find the sales tax on a purchase of $64.50 if the sales tax rate is 7%. Sales tax = sales tax rate · purchase price = 7% · $64.50 = 4.515 Sales tax = $4.52

  7. Total Price • The total price of an item is the sum of its purchase price and the sales tax on the item. Total Price = purchase price + sales tax

  8. Example • Find the total price of a $619.50 refrigerator if the sales tax rate on the purchase is 2.8%. Sales tax = sales tax rate · purchase price = 2.8% · $619.50 = $17.35 Total Price = purchase price + sales tax = $619.50 + $17.35 = $636.85

  9. Commission • The amount of commission paid is a percent of the total dollar sales of goods or services. Commission = commission rate· sales amount = percent · base

  10. Example • A real estate agent earns a 3% commission on all sales. Find her commission if she sells a house for the listing price of $212,000. Commission = commission rate· sales = 3% · $212,000 = $6,360

  11. Discount • The amount of discount is the difference between the original price and the sale price. Amount of discount = original price – sale price Amount of discount = discount rate · original price

  12. Sales Price • To find the sale price of an item, subtract the discount from the original price. Sale Price = original price – discount

  13. Example • Find the amount of the discount on a pair of hiking boots if they are normally priced at $124.60, but are currently on sale for 15% off. Then find the sale price. Amount of discount = discount rate · original price = 15% · $124.60 = $18.69 Sale Price = original price – discount = $124.60 - $18.69 = $105.91

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