Percent Applications Sales Tax Tips Interest

is determined by finding a certain percentage of a purchase price is determined by finding a certain percentage of a purchase price. It is added to your total bill when you make a purchase. Sales tax

Calculating Sales Tax Figure out your total bill if you buy a CD for $16 with a sale tax of 5%. Method 2: Add the percent to 100%: 100% + 5% = 105% Method 1: Find the tax and add to price Convert % to a decimal 5% = .05 Convert % to a decimal 105% = 1.05 Multiply price by the decimal. $16 x .05 = .80 Multiply price by the decimal. $16 x 1.05 = $16.80 Add the tax to the price. $16 + .80 = $16.80

Calculating Sales Tax Lindsey went to Best Buy and bought a laptop computer. If the laptop Player costs $500 and the sales tax was 6.5%, what was her total bill? Method 1: Find the tax and add to price Method 2: Add the percent to 100%: 100% + 6.5% = 106.5% Convert % to a decimal 6.5% = .065 Convert % to a decimal 106.5% = 1.065 Multiply price by the decimal. $500 x .065 = $32.50 Multiply price by the decimal. $500 x 1.065 = $532.50 Add the tax to the price. $500 + $32.50 = $532.50

A is money given to someone to show appreciation for a service. tip

Calculating Tip Kevin ate lunch with his friends at Chili’s. Their meal cost $24.50. If they tipped their waitress 20%, what was their total bill? Method 1: Find the tip and add to price Method 2: Add the percent to 100%: 100% + 20% = 120% Convert % to a decimal 20% = .20 Convert % to a decimal 120% = 1.20 Multiply cost by the decimal. $24.50 x .20 = $4.90 Multiply price by the decimal. $24.50 x 1.2 = $29.40 Add the tax to the price. $24.50 + $4.90 = $29.40

Calculating Tip Danielle ate dinner with her family at Ruby Tuesdays. Their bill came to $37.40. If they left a 18% tip, how much was their total bill? Method 1: Find the tip and add to price Method 2: Add the percent to 100%: 100% + 18% = 118% Convert % to a decimal 18% = .18 Convert % to a decimal 118% = 1.18 Multiply cost by the decimal. $37.40 x 0.18 = $6.73 Multiply price by the decimal. $37.40 x 1.18 = $44.13 Add the tax to the price. $37.40 + $6.73 = $44.13

is money paid regularly at a particular rate for the use of money or invested Interest

Calculating Simple Interest You have a savings account that pays an annual interest rate of 6%. If you deposit $150, how much will you have at the end of the year? Method 1: Find the interest & add to deposit Method 2: Add the percent to 100%: 100% + 6% = 106% Convert % to a decimal 6% = 0.06 Convert % to a decimal 106% = 1.06 Multiply deposit by the decimal. $150 x 0.06 = $9 Multiply price by the decimal. $150 x 1.06 = $159 Add the tax to the price. $150 + $9 = $159

Calculating Simple Interest You want to buy a car that costs $20,000. You need to take out a loan and the interest rate is 2.5%. If you are able to repay the loan in one year, how much would you owe? Method 1: Find the interest & add to deposit Method 2: Add the percent to 100%: 100% + 2.5% = 102.5% Convert % to a decimal 2.5% = .025 Convert % to a decimal 102.5% = 1.025 Multiply loan by the decimal. $20,000 x 0.025 = $500 Multiply price by the decimal. $20,000 x 1.025 = $20,500 Add the tax to the price. $20,000 + $500 = $20,500