Presentation on theme: "Sales Tax, Tip and Commission"— Presentation transcript:
1 Sales Tax, Tip and Commission 12/9/14 – 12/10/14
2 Review of Basic Percent Problems MethodSet UpProportionPercent = 𝑁𝑢𝑚𝑏𝑒𝑟 ℎ𝑢𝑛𝑑𝑟𝑒𝑑 = 𝑛𝑢𝑚𝑏𝑒𝑟 100𝒏𝒖𝒎𝒃𝒆𝒓 𝟏𝟎𝟎 = 𝒑𝒂𝒓𝒕 𝒘𝒉𝒐𝒍𝒆Percent Equation (missing the PART)Percent (as a decimal) = 𝑝𝑎𝑟𝑡 𝑤ℎ𝑜𝑙𝑒Percent (as a decimal) = 𝑛 𝑤ℎ𝑜𝑙𝑒Percent Equation (missing the WHOLE)Percent (as a decimal)× whole = partPercent (as a decimal) × 𝑛 = partPercent Equation (missing the PERCENT)Percent (as a decimal) × whole = part𝑛 × whole = part
3 VocabularyTip: an optional payment to someone who provides good service. This is in addition to the cost of the bill.Sales Tax: the amount added to the cost of an item. It is usually a percent of the purchase price.Commission: a paid fee for services and is usually a percent of the total cost.Discount: an amount that is subtracted from the regular price of an item.Percent Equations are used to solve these types of problems.
4 Example:The price of a office chair was $ The tax rate was 7%. A. What was the tax on the office chair? B. What was the total price of the office chair including tax?
5 Example:Find the total price of a $50.60 item plus 6.5% sales tax. There are two methods to solving.