Warm Up Change to a decimal 1. 20% 2. 45% % 4. 2% Course Applications of Percents.02

Learn to find commission and sales tax. Course Applications of Percents

Course Applications of Percents 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 = commission ratesales commission = commission rate  sales

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? Additional Example 1: Multiplying by Percents to Find Commission Amounts Course Applications of Percents First find his commission. 4%  $65,000 = ccommission rate  sales = commission

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

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? Try This: Example 1 Course Applications of Percents First find her commission. 5%  $50,000 = ccommission rate  sales = commission

0.05  50,000 = c Change the percent to a decimal. Try This: Example 1 Continued Course Applications of Percents 2500 = c Solve for c. The agent earned a commission of $2500 on the sale. Now find her total pay for last month. $ $700 = $3200 commission + salary = total pay Her total pay for last month was $3200.

Try this one Alice earns a monthly salary of $315 plus a commission on her total sales. Last month her total sales were $9640, and she earned a total of $ What was her commission rate? Substitute into our formula what we know then solve for the missing variable

Course Applications of Percents 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. When using our percent proportion the rate is the % and the amount is the part.

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? Additional Example 2: Multiplying by Percents to Find Sales Tax Amounts Course Applications of Percents CD: 2 at $16.99$33.98 DVD: 1 at $36.29 $36.29 $70.27Total Price  = Convert tax rate to a decimal and multiply by the total price. Adrian would pay $4.74 in sales tax.

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? Insert Lesson Title Here Course Applications of Percents $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.

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

A sales associate earned $770 in commission in May. If his commission is 7% of sales, how much were his sales in May? Try This: Example 4 Course Applications of Percents Think: $770 is 7% of what number? Solve by equation: 770 = 0.07  sLet s represent total sales = s Divide each side by The associate’s sales in May were $11,000.

Homework p426: 1,2,5,6,15