# 8-6 Applications of Percents Course 3 Warm Up Warm Up Problem of the Day Problem of the Day Lesson Presentation Lesson Presentation.

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8-6 Applications of Percents Course 3 Warm Up Warm Up Problem of the Day Problem of the Day Lesson Presentation Lesson Presentation

Warm Up Estimate. 1. 20% of 602 2. 133 out of 264 3. 151% of 78 4. 0.28 out of 0.95 120 50% 120 Course 3 8-6 Applications of Percents 30% Possible answers:

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! Course 3 8-6 Applications of Percents 16 % 2 3

Learn to find commission, sales tax, and withholding tax. Course 3 8-6 Applications of Percents

Vocabulary commission commission rate sales tax withholding tax Insert Lesson Title Here Course 3 8-6 Applications of Percents

Course 3 8-6 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 ratesalescommission commission rate  sales = commission

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 3 8-6 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 3 8-6 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. \$2600 + \$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 3 8-6 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 3 8-6 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. \$2500 + \$700 = \$3200 commission + salary = total pay Her total pay for last month was \$3200.

Course 3 8-6 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.

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 3 8-6 Applications of Percents CD: 2 at \$16.99\$33.98 DVD: 1 at \$36.29 \$36.29 \$70.27Total Price 0.0675  70.27 = 4.743225Convert 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 3 8-6 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.

Course 3 8-6 Applications of Percents A tax deducted from a person’s earnings as an advance payment of income tax is called withholding tax.

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? Additional Example 3: Using Proportions to Find the Percent of Tax Withheld Course 3 8-6 Applications of Percents Think: What percent of \$1500 is \$114.75? Solve by proportion: 114.75 1500 n 100 = n  1500 = 100  114.75Find the cross products.

Additional Example 3 Continued Course 3 8-6 Applications of Percents n = 7.65 7.65% of Anna’s earnings is withheld for Social Security and Medicare. 11,475 1500 n = 1500n = 11,475Divide both sides by 1500.

BJ earns \$2500 monthly. Of that, \$500 is withheld for income tax. What percent of BJ’s earnings are withheld for income tax? Try This: Example 3 Course 3 8-6 Applications of Percents Think: What percent of \$2500 is \$500? Solve by proportion: 500 2500 n 100 = n  2500 = 100  500Find the cross products.

Try This: Example 3 Continued Course 3 8-6 Applications of Percents n = 20 20% of BJ’s earnings are withheld for income tax. 50000 2500 n = 2500n = 50,000Divide both sides by 2500.

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 3 8-6 Applications of Percents Think: \$960 is 12% of what number? Solve by equation: 960 = 0.12  sLet s = total sales. 960 0.12 = s Divide each side by 0.12. 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 3 8-6 Applications of Percents Think: \$770 is 7% of what number? Solve by equation: 770 = 0.07  sLet s represent total sales. 770 0.07 = s Divide each side by 0.07. The associate’s sales in May were \$11,000.

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? \$21.15 \$1.20 Insert Lesson Title Here Course 3 8-6 Applications of Percents 19%

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? Insert Lesson Title Here 30% Course 3 8-6 Applications of Percents

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