applications of percent. warm up complete the table percentfractiondecimal 50% ¼ 0.04 35%0.35 0.065
TRANSCRIPT
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Applications of Percent
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Warm UpComplete the Table
Percent Fraction Decimal50%
¼ 0.04
35% 0.350.065
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Vocabulary
• Sales tax, which is tax on the sale of an item or service, is a percent of the purchase price that is collected by the seller.
• When you deposit money in a savings account, your money usually earns interest. When you borrow money, you must pay back the original amount of the loan plus interest. Simple interest is a fixed percent of the principal. The principal is the original amount deposited or borrowed.
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Marcus buys a varsity jacket from a clothing store in Anaheim. The price of the jacket is $80.00 and the sales tax is 8%. What is the total cost of the jacket?
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Method 1 – Use a Bar Model
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Method 2 Step 1: Write the percent as a decimal.
8% → 0.08
Step 2: Multiply the decimal times the cost of the jacket.
0.08 x $80.00 = $6.40
Step 3: Add the product from step 2 to the cost of the jacket.
Jacket Price + Sales Tax = Total Cost$80.00 + $6.40 = $86.40
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Sharon wants to buy a shirt that costs $20.00. The sales tax is 5%. How much is the sales tax? What is her total cost for the shirt?
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Terry deposits $200.00 into a bank account that earns 3% interest per year. What is the total amount in the account after 2 years?
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Is there another way?
Can we find an expression that works for simple interest?
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Ariane borrows $400.00 on a 4 year loan. She is charged 5% simple interest per year. How much interest is she charged for 4 years? What is the total amount she has to pay back?
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The Sanchez family goes out for dinner, and the price of the meal is $60.00. The sales tax on the meal is 7%, and they also want to leave a 15% tip. What is the total cost of the meal?
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Formulate a Plan
Calculate the sales tax separately, then calculate the tip, and then add the products to the bill for the meal to find the total.
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Justify and Evaluate
Estimate the sales tax and tip.
Sales tax is about 10% plus 15% for tip gives 25%.
Find 25% of the bill: 0.25 x $60.00 = $15.00.
Add this to the bill: $60.00 + $15.00 = $75.00.
The total cost should be about $75.00.
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Kedar earns a monthly salary of $2,200.00 plus 3.75% commission on the amount of his sales at a men’s clothing store. One month he sold $4,500.00 in clothing. What was his commission that month? How much did he earn in all?