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 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.

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Presentation on theme: " 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."— Presentation transcript:

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2  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.  commission ratesalescommission  commission rate  sales = commission

3  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 = c commission rate  sales = commission 0.04  65,000 = c Change the percent to a decimal. 2600 = c Solve for c.

4 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.

5  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. Sales tax ratepurchase pricetax to be paid Sales tax rate  purchase price= tax to be paid

6 If the sales tax rate is 6.5%, how much tax would Adrian pay if he bought two CDs at $16.99 each and one DVD for $36.29? CD: 2 at $16.99$33.98 DVD: 1 at $36.29 $36.29 $70.27Total Price 0.065  70.27 = 4.56755Convert tax rate to a decimal and multiply by the total price. Adrian would pay $4.57 in sales tax.

7  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? $21.15 $1.20


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