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Notes 30

Notes 30. Applications of Percents 6-5. Vocabulary. Commission- a fee paid to a person who makes a sale. Commission rate- a percent of the selling price. Additional Example 1: Multiplying by Percents to Find Commission Amounts.

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Notes 30

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  1. Notes 30 Applications of Percents 6-5

  2. Vocabulary Commission- a fee paid to a person who makes a sale. Commission rate- a percent of the selling price.

  3. Additional Example 1: Multiplying by Percents to Find Commission Amounts A real-estate agent is paid a monthly salary of $900 plus commission. Last month he sold one condominium for $65,000, earning a 4% commission on the sale. How much was his commission? What was his total pay last month? First find his commission. 4%  $65,000 = ccommission rate sales = commission

  4. Additional Example 1 Continued 0.04  65,000 = cChange the percent to a decimal. 2600 = cSolve for c. He earned a commission of $2600 on the sale. Now find his total pay for last month. $2600 + $900 = $3500 commission + salary = total pay. His total pay for last month was $3500.

  5. Check It Out: Example 1 A car sales agent is paid a monthly salary of $700 plus commission. Last month she sold one sports car for $50,000, earning a 5% commission on the sale. How much was her commission? What was her total pay last month?

  6. Sales tax is the tax on the sale of an item or service. It is a percent of the purchase price and is collected by the seller.

  7. CD: 2 at $16.99 $33.98 DVD: 1 at $36.29 $36.29 Additional Example 2: Multiplying by Percents to Find Sales Tax Amounts If the sales tax rate is 6.75%, how much tax would Adrian pay if he bought two CDs at $16.99 each and one DVD for $36.29? $70.27 Total Price 0.0675 70.27 = 4.743225 Write the tax rate as a decimal and multiply by the total price. Adrian would pay $4.74 in sales tax.

  8. Check It Out: Example 2 Amy stays in a hotel for $45 per night. She stays for two nights and pays a sales tax of 13%. How much tax did she pay?

  9. 114.75 n = 1500 100 Additional Example 3: Using Proportions to Find the Percent of Earnings Anna earns $1500 monthly. Of that, $114.75 is withheld for Social Security and Medicare. What percent of Anna’s earnings are withheld for Social Security and Medicare? Think: What percent of $1500 is $114.75? Set up a proportion. n 1500 = 100 114.75 Find the cross products.

  10. 11,475 n = 1500 Additional Example 3 Continued 1500n = 11,475 Divide both sides by 1500. n = 7.65 Simplify. 7.65% of Anna’s earnings is withheld for Social Security and Medicare.

  11. Check It Out: Example 3 BJ earns $2500 monthly. Of that, $500 is withheld for income tax. What percent of BJ’s earnings are withheld for income tax? Think: What percent of $2500 is $500?

  12. = sDivide each side by 0.12. 960 0.12 Additional Example 4: Dividing by Percents to Find Total Sales A furniture sales associate earned $960 in commission in May. If his commission is 12% of sales, how much were his sales in May? Think: $960 is 12% of what number? Let s = total sales 960 = 0.12 sSet up an equation. 8000 = s Simplify. The associate’s sales in May were $8000.

  13. Check It Out: Example 4 A sales associate earned $770 in commission in May. If his commission is 7% of sales, how much were his sales in May? Think: $770 is 7% of what number?

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