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## 8-6

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- 8-6 Applications of Percents Course 3 Warm Up Problem of the Day Lesson Presentation
- 8-6 Applications of Percents Course 3 Warm Up Estimate. 1.20% of 602 2. 133 out of 264 3. 151% of 78 4. 0.28 out of 0.95 Possible answers: 120 50% 120 30%
- 8-6 Applications of Percents 2 16% 3 Course 3 Problem of the Day What is the percent discount on a purchase of three shirts if you take advantage of the shirt sale? All Shirts on Sale! Buy 2—Get the Third for Half Price!
- 8-6 Applications of Percents Course 3 Learn to find commission, sales tax, and withholding tax.
- 8-6 Applications of Percents Course 3 Insert Lesson Title Here Vocabulary commission commission rate sales tax withholding tax
- 8-6 Applications of Percents Course 3 Real estate agents often work for commission. A commission is a fee paid to a person who makes a sale. It is usually a percent of the selling price. This percent is called the commission rate. Often agents are paid a commission plus a regular salary. The total pay is a percent of the sales they make plus a salary. commission ratesales = commission
- 8-6 Applications of Percents Course 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
- 8-6 Applications of Percents Course 3 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.
- 8-6 Applications of Percents Course 3 Try This: 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? First find her commission. 5% $50,000 = c commission rate sales = commission
- 8-6 Applications of Percents Course 3 Try This: Example 1 Continued 0.05 50,000 = cChange the percent to a decimal. 2500 = c Solve for c. The agent earned a commission of $2500 on the sale. Now find her total pay for last month. $2500 + $700 = $3200 commission + salary = total pay Her total pay for last month was $3200.
- 8-6 Applications of Percents Course 3 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.
- 8-6 Applications of Percents CD: 2 at $16.99 $33.98 DVD: 1 at $36.29 $36.29 Course 3 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 Convert tax rate to a decimal and multiply by the total price. Adrian would pay $4.74 in sales tax.
- 8-6 Applications of Percents Course 3 Insert Lesson Title Here Try This: Example 2 Amy rents a hotel for $45 per night. She rents for two nights and pays a sales tax of 13%. How much tax did she pay? $45 2 = $90 Find the total price for the hotel stay. $90 0.13 = $11.70 Convert tax rate to a decimal and multiply by the total price. Amy spent $11.70 on sales tax.
- 8-6 Applications of Percents Course 3 A tax deducted from a person’s earnings as an advance payment of income tax is called withholding tax.
- 8-6 Applications of Percents 114.75 n = 1500 100 Course 3 Additional Example 3: Using Proportions to Find the Percent of Tax Withheld 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? Solve by proportion: n 1500 = 100 114.75 Find the cross products.
- 8-6 Applications of Percents 11,475 n = 1500 Course 3 Additional Example 3 Continued 1500n = 11,475 Divide both sides by 1500. n = 7.65 7.65% of Anna’s earnings is withheld for Social Security and Medicare.
- 8-6 Applications of Percents 500 n = 2500 100 Course 3 Try This: 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? Solve by proportion: n 2500 = 100 500 Find the cross products.
- 8-6 Applications of Percents 50000 n = 2500 Course 3 Try This: Example 3 Continued 2500n = 50,000 Divide both sides by 2500. n = 20 20% of BJ’s earnings are withheld for income tax.
- 8-6 Applications of Percents = sDivide each side by 0.12. 960 0.12 Course 3 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? Solve by equation: 960 = 0.12 sLet s = total sales. The associate’s sales in May were $8000.
- 8-6 Applications of Percents = sDivide each side by 0.07. 770 0.07 Course 3 Try This: 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? Solve by equation: 770 = 0.07 sLet s represent total sales. The associate’s sales in May were $11,000.
- 8-6 Applications of Percents Course 3 Insert Lesson Title Here Lesson Quiz: Part 1 1. The lunch bill was $8, and you want to leave a 15% tip. How much should you tip? 2. The sales tax is 5.75%, and the shirt costs $20. What is the total cost of the shirt? 3. As of 2001, the minimum hourly wage was $5.15. Congress proposed to increase it to $6.15 per hour. To the nearest percent, what is the proposed percent increase in the minimum wage? $1.20 $21.15 19%
- 8-6 Applications of Percents Course 3 Insert Lesson Title Here Lesson Quiz: Part 2 4. It costs a business $13.30 to make its product. To satisfy investors, the company needs to make $4 profit per unit. To the nearest percent, what should be the company’s markup? 30%