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Applying Ratios, Rates, and Proportions : Percent Proportion, Sales Tax, Tip, Discount, and Simple Interest

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Percent Proportion part = % whole 100

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Percent Proportion Problems Remember: part / whole = % / 100 Find 20% of 375. x / 375 = 20 / 100 x = is what percent of 45? 27 / 45 = x / 100 x=60 75 is 25% of what number? 75 / x = 25 / 100 x = 300

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PRACTICE PERCENT PROPORTION Workbook page 82 Team Captain = person who has a birthday closest to today. Choose a team name.

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SALES TAX, TIP, & DISCOUNT –K–Knowing how to calculate sales tax, tip, and discounts will help you determine how much money youre actually spending when you shop or eat out.

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Sales Tax, Tip, and Discount DefinitionFinding Tax, Tip, or Discount Finding Total Price Sales Tax: increases the final price (100% + tax) Multiply the item times the rate as a decimal. If a store charges 5% sales tax, do 1.05 x subtotal. Tip: increases the final price (100% + tip) Multiply the item times the rate as a decimal. To figure a 20% tip, do 1.2 x subtotal. Discount: decreases the final price (100% - discount) Multiply the item times the rate as a decimal. If a jacket is 20% off, do 0.8 x original price.

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MONEY MATTERS A $53 racquet at Sports Galore is on sale for 20% off the regular price. What is the amount of the discount? What is the sale price ?

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PRACTICE SALES TAX, TIP, DISCOUNT Workbook page 86 Team Captain = person who has the longest hair. Choose a team name. Omit the middle column Omit the first column

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SIMPLE INTEREST Simple interest is the amount paid for the use of money.

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FORMULA I = P x R x T

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INTEREST EQUALS PRINCIPAL - the amount of money invested or borrowed RATE - in the annual interest TIME - in years

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SAVINGS ACCOUNT You can also use the formula to find the simple interest when you deposit money in a savings account

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INVESTING Angie has $500 in a savings account that pays 5% simple interest. How much interest will she earn in 2 years? How much interest will she earn if she withdraws the money after 9 months?

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HOME IMPROVEMENT If you borrow $5,000 at 11.5% for 3 years to make home repairs and improvements. How much will you have to pay back, including interest?

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PRACTICE SIMPLE INTEREST Team Captain = person who has the largest hands. Choose a team name. Middle column first Workbook page 87

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PERCENT OF CHANGE When shopping for roses the originally cost was $36 dollars before Valentines Day is now on sale for $18 dollars. What is the percent of decrease of the roses? Created By:Lynn Husen & Pat Layton Maury Middle Dandridge, TN

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