Objective:

I will be able to solve problems that involve discount,markups,commissions,profit,compute simple,and compute interest.

Vocabulary

Commission

: A fee paid to a person who makes a sale. It is usually a percent of the selling price.

Commission Rate

: A percent of the selling price

Gross Income:

total revenue received before any deductions or allowances, as for rent, cost of goods sold, taxes, etc.

Net Income

: An individual's total earnings from wages, passive enterprises, and investment interest and dividends after taxes and deductions.

Profit

: The difference between total income and total expenses. Expressed as a percent or as a dollar amount.

Salary

: A fixed compensation periodically paid to a person for regular work or services.

Wages

: money that is paid or received for work or services, as by the hour, day, or week.

Question 1:

If the sales tax rate is 7.75%,how much

tax would Nate pay if he bought

a computer for $45.80 and two

games for $15.99 each.

Question 1 work:

Computer: $45.80 $45.80

Games: 2 at $15.99 $31.98

$77.78

0.0775x77.78= 6.02795

Total Price

Write the tax rate as a decimal

and multiply by the total price

Nate would pay $6.03 in sales tax.

Question 2:

Nick get paid a monthly salary of $2,100 plus commissions. Last month he sold one car for $39,500,earning a 4% commission on the sale. How much was his commission? What was her total pay for the month?

Question 2 Work:

4%x$39,500=C

0.04x39,500=C

1,580=C

First find her commission

commission rate x sales = commission

Change the percent to a decimal

Solve for C.

She earned a commission of $1.580 on the sale.

Now find her total pay for last month

$1,580+$2,100=$3,680

Her total pay for last month was $3,680

Commission+salary= total pay

Question 3:

Sonia earns $36,000 yearly. Of that, she pays $12,240 for rent. What percent of Sonia's earnings go to rent?

Question 3 work:

n 12,240

100 36,000

=

set up a proportion

n x 36,000= 100 x 12,240

36,000n=1,224,000

36,000n 1,224,000

36,000

36,000

=

n=34

Find the cross products.

Simplify

Divide both sides by 36,000

So 34% of Sonia's earnings goes to rent.

simplify

Question 4:

Students in Mrs.Martinez's class sell gift wrap to raise funds for class trips.The class earns 11% profit on all sales.

A

: If the total sales were $4962,what was the profit?

B

: If the class earned $647.35,how much were the total sales?

Question 4 work:

A:

x=0.11x4,962

x=545.82

The profit was $545.82.

Set up an equation

multiply

B:

Let s=total sales

647.35=0.11 x s

647.35 0.11s

0.11

0.11

5885 = S

The total sales of gift wrap for Mrs.Martinez's class were $5,885.

set up an equation

Divide each side by 0.11.

Simplify

=

**T**

h

e

e

n

d

commission ,

sales tax, and profit.

h

e

e

n

d

commission ,

sales tax, and profit.

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**Quiz Problems**

**Quiz question 1:**

total sales

:

$210.13

sales tax rate

:

7.25%

Find the sales tax to the nearest cent

total sales

:

$42.99

sales tax rate

:

9%

Find the sales tax to the nearest cent

**Quiz question 2:**

**Quiz question 3:**

commission

:

$63.06

commission rate

:

7.25%

Find the total sales to the nearest cent

**Quiz question 4:**

**Quiz question 5**

:

:

commission

:

$2,842

commission rate

:

7.25%

Find the total sales to the nearest cent

Aaron earns a weekly salary of $350 plus a 7% commission on sales. last week his sales totaled $3,200. What was his total pay?

Solve for total pay

OBJ: 4.1, 4.2, 4.3