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Using Percents Part 1

Using Percents Part 1. What is commission?. Real estate agents often work for commission . A commission is a fee paid to a person who makes a sale. It is usually a percent of the selling price. This percent is called the commission rate . commission rate  sales = commission.

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Using Percents Part 1

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  1. Using PercentsPart 1

  2. What is commission? • Real estate agents often work for commission. A commission is a fee paid to a person who makes a sale. It is usually a percent of the selling price. This percent is called the commission rate. • commission ratesales = commission

  3. Calculate Commission • A real-estate agent is paid a monthly salary of $900 plus commission. Last month he sold one condominium for $65,000, earning a 4% commission on the sale. How much was his commission? What was his total pay last month? First find his commission. 4%  $65,000 = ccommission rate  sales = commission 0.04  65,000 = cChange the percent to a decimal. 2600 = cSolve for c.

  4. Calculate Commission … He earned a commission of $2600 on the sale. Now find his total pay for last month. $2600 + $900 = $3500 commission + salary = total pay His total pay for last month was $3500.

  5. What is sales tax? • Sales tax is the tax on the sale of an item or service. It is a percent of the purchase price and is collected by the seller. Sales tax ratepurchase price= tax to be paid

  6. CD: 2 at $16.99 $33.98 DVD: 1 at $36.29 $36.29 Calculate Sales Tax If the sales tax rate is 6.5%, how much tax would Adrian pay if he bought two CDs at $16.99 each and one DVD for $36.29? $70.27 Total Price 0.065 70.27 = 4.56755Convert tax rate to a decimal and multiply by the total price. Adrian would pay $4.57 in sales tax.

  7. Practice, Practice, Practice  • 1. The lunch bill was $8, and you want to leave a 15% tip. How much should you tip? • 2. The sales tax is 5.75%, and the shirt costs $20. What is the total cost of the shirt? $1.20 $21.15

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