Using Percents Part 1 What is commission Real

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

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 = c commission rate sales = commission 0. 04 65, 000 = c Change the percent to a decimal. 2600 = c Solve for c.

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.

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= price tax to be paid

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? CD: 2 at $16. 99 $33. 98 DVD: 1 at $36. 29 $70. 27 0. 065 Convert tax rate to a decimal and multiply by the total price. Adrian would pay $4. 57 in sales tax. 70. 27 = 4. 56755 Total Price

Practice, Practice � � 1. The lunch bill was $8, and you want to leave a 15% tip. How much should you $1. 20 tip? 2. The sales tax is 5. 75%, and the shirt costs $20. What is the total cost of the shirt? $21. 15