Applications with Percents Applications with Percents Objective 7

Applications with Percents

Applications with Percents Objective: 7. 1. 01 Develop and use ratios, proportions, and percents to solve problems Essential Question: How can I apply my understanding of percents to make more informed shopping decisions?

Applications with Percents Vocabulary: Sales Tax: an additional amount of money charged on the items people buy; the government uses this money to operate the country. Discount: the amount of money by which the regular price of an item is reduced. Tip: also known as gratuity, is money given to a person who provides a service, and is added to the cost of that service.

Applications with Percents Real World Example: Sam has a serious dilemma. He wants to buy PS 3 but cannot decide where to buy it from. Target is selling them for $399. 99 with a 15% discount. Best Buy is selling them for $375. 99 but only a 10% discount. Where should Sam buy his PS 3? Best Buy

Applications with Percents But What About If…

Applications with Percents Real World Example: Target was selling them for $399. 99 with a 20% discount and Best Buy was selling them for $375. 99 and a 15% discount. Best Buy

Applications with Percents Example 1: Finding Total Cost A graphing calculator costs $90 and the sales tax is 6%. What is the total cost? Total Cost = Cost of Calculator + Sales Tax First calculate the sales tax 6% OF $90 0. 06 x 90 $5. 40 Total Cost $90. 00 + $5. 40 Total Cost $95. 40

Applications with Percents Example 2: Finding Total Cost A laptop costs $475 and the sales tax is 7½%. What is the total cost? Total Cost = Cost of Laptop + Sales Tax First calculate the sales tax 7½% OF $475 0. 075 x 475 $35. 63 Total Cost $475. 00 + $35. 63 Total Cost $510. 63

Applications with Percents Example 3: Finding Sale Price A snowboard has a regular price of $169 but is on sale for 35% off. What is the sale price? Total Cost = Cost of Snowboard – Discount First calculate the discount 35% OF $169 0. 35 x 169 $59. 15 Total Cost $169. 00 – $59. 15 Total Cost $109. 85

Applications with Percents Example 4: Finding Sale Price A new coat has a regular price of $185 but is on sale for 33% off. What is the sale price? Total Cost = Cost of Coat – Discount First calculate the discount 33% OF $185 0. 33 x 185 $61. 05 Total Cost $185. 00 – $61. 05 Total Cost $123. 95

Applications with Percents Example 5: Finding Total Cost A meal at Pizza Inn cost $25. 85. The tax is 8% and Mr. Williams wanted to leave a 15% tip. What was the cost of the meal? Total Cost = Cost of Meal + Tax + Tip First calculate the tax 8% OF $25. 85 0. 08 x 25. 85 $2. 07 $123. 95 Next calculate the tip 15% OF $27. 92 0. 15 x 27. 92 $4. 19

Applications with Percents When Calculating Tax and Tip: Always Remember… Your textbook teaches you to calculate the tax and the tip separately and then add both amounts to the cost of the meal. However, in a restaurant the tax has already been calculated and added to the cost of the meal. In my examples, I calculated the tax and added that to the cost of the meal. Next I used the new cost of the meal to determine the tip.

Applications with Percents Example 6: Finding Percent of Discount An electric guitar was originally $299. 95 but on sale for $179. 99. What is the percent of discount? Discount = Original Cost – Sale Price = $299. 95 – 179. 99 = $119. 96 Use the Percent IS % Proportion To OF 100 Calculate Percent of Discount 40%

Applications with Percents Example 7: Finding Percent of Markup In the last 6 months the average price for a gallon of unleaded gasoline has risen from $2. 85 to $3. 10. What is the percent of markup? Markup = New Price – Old Price = $3. 10 – $2. 85 = $0. 25 Use the Percent IS Proportion To OF Calculate Percent of Discount % 100 8. 7%

Applications with Percents When Calculating Percents of Markup and Discount: Always Remember… You can use the percent proportion or the percent of change formula to make your calculations. If you choose to use the percent proportion you have to calculate the change first and use that as your IS and use the original price as your OF.

Applications with Percents Independent Practice: Determine the final cost for each example: 1. $99 CD Player, 5% Tax = $103. 95 2. $1, 500 Computer, 25% Discount = $1125. 00 3. $119. 50 Skateboard, 20% Off = $$95. 60 4. $4. 30 Notebook, 8% Tax = $4. 64 5. $24. 95 Book, 4. 5% Tax = $26. 07 6. $39. 60 Sweater, 40% Discount = $23. 76

Applications with Percents Summary: Always Remember… 1) Discounts or Sales are subtracted from the original cost of an item 2) Taxes are added to the cost of an item 3) To determine the Percent of a Discount or Percent of Markup use the percent proportion or percent change formulas

Applications with Percents HOMEWORK