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Copy of commission, sales tax, and profit

math project
by

zac apple

on 9 October 2013

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Transcript of Copy of commission, sales tax, and profit

Commission,Income, Hourly Wages, Salary, and Profit
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.

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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
Full transcript