1. Consumer Math
Vocabulary

2. First, let’s review Percents…

3. NOTEBOOK SETUP: Steps:
Make a title Page on the next blank page in your notebook. Call it “Percent's”
Topic for next page: Consumer Math
EQ: How do you use percent to solve consumer math problems?
Date: 3/11/15
Don’t forget the page number.
Do the t-chart activity on the next slide.
Copy each definition and the example that follows. YES YOU HAVE TO COPY THE WORD PROBLEMS!!!

4. EQ: How do you use percent to solve consumer math problems?
Sort the following words into a t-chart. One side of your chart should represent words that increase your total (+) and the other should be words that decrease your total (-):
+ - tax, mark down, discount, tip, gratuity,
mark up, commission, interest.

5. Tip/Gratuity
An amount of money given to a person (waiter, taxi driver, etc) who has provided a service.

6. Tip/Gratuity
Example: Your bill at a restaurant is $ If you want to leave a 20% tip, how much would the total amount be?
$54.00 x (.20) = $10.80
$ $10.80 = $64.80

7. A fee charged by the government on a product, income or activity.
Sales Tax
A fee charged by the government on a product, income or activity.

8. Sales Tax
The price of a t-shirt at Target is $ If North Carolina has a 7% sales tax rate, how much would the total be for the shirt?
$15.50 x (.07) = $1.09
$ $1.09 = $16.59

9. The original cost of an item that a store buys from a wholesaler.
Wholesale Price
The original cost of an item that a store buys from a wholesaler.

10. An amount added to the wholesale price to determine the selling price.
Mark up
An amount added to the wholesale price to determine the selling price.
The wholesale price of a pair of shoes is $75. The store increases the price of the shoes with a markup of 15%. What is the selling price of the shoes.
$75.00 x (.15) = $11.25
$ $11.15 = $86.25

11. Discount/Sale
Stores often sell goods for a discounted price. Typically, a store will discount an item by a percent of the original price.

12. Discount amount= $1.50 Sale Price = $13.50
Discount/Sale
In a video store, a DVD that sells for $15 is marked, "10% off". What is the discount? What is the sale price of the DVD?
The rate is 10%.
The discount is: 0.10 x $15.00 = $1.50
$ $1.50 = $13.50
Discount amount= $ Sale Price = $13.50

13. Mark down
Any reduction of price. Discount and sale normally mean the same thing as mark down.

14. Time to practice..

15. Let’s try this at the mall...