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6-6 Commission, Sales Tax, and Profit
Warm UpWarm Up
California StandardsCalifornia Standards
Lesson Presentation
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6-6 Commission, Sales Tax, and Profit
Warm UpEstimate.
1. 20% of 602
2. 133 out of 264
3. 151% of 78
4. 0.28 out of 0.95
120
50%
120
30%
Possible answers:
6-6 Commission, Sales Tax, and Profit
NS1.7 Solve problems that involve discounts, markups, commissions, and profit and compute simple and compound interest. Also covered: NS1.3
California Standards
6-6 Commission, Sales Tax, and Profit
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 ratecommission rate salessales = commissioncommission
6-6 Commission, Sales Tax, and Profit
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?
Additional Example 1: Multiplying by Percents to Find Commission Amounts
First find his commission.
4% $65,000 = c commission rate sales = commission
0.04 65,000 = c Change the percentto a decimal.
2600 = c Solve for c.
6-6 Commission, Sales Tax, and ProfitAdditional Example 1 Continued
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.
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?
6-6 Commission, Sales Tax, and Profit
A car sales agent is paid a monthly salary of $700 plus commission. Last month she sold one sports car for $50,000, earning a 5% commission on the sale. How much was her commission? What was her total pay last month?
Check It Out! Example 1
First find her commission.
5% $50,000 = c commission rate sales = commission
0.05 50,000 = c Change the percent to a decimal.
2500 = c Solve for c.
6-6 Commission, Sales Tax, and ProfitCheck It Out! Example 1 Continued
The agent earned a commission of $2500 on the sale.
Now find her total pay for last month.
$2500 + $700 = $3200 commission + salary = total pay.
Her total pay for last month was $3200.
A car sales agent is paid a monthly salary of $700 plus commission. Last month she sold one sports car for $50,000, earning a 5% commission on the sale. How much was her commission? What was her total pay last month?
6-6 Commission, Sales Tax, and Profit
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.
6-6 Commission, Sales Tax, and Profit
If the sales tax rate is 6.75%, how much tax would Adrian pay if he bought two CDs at $16.99 each and one DVD for $36.29?
Additional Example 2: Multiplying by Percents to Find Sales Tax Amounts
CD: 2 at $16.99 $33.98
DVD: 1 at $36.29 $36.29
$70.27 Total Price
0.0675 70.27 = 4.743225 Write the tax rate as a decimal and multiply by the total price.
Adrian would pay $4.74 in sales tax.
6-6 Commission, Sales Tax, and ProfitCheck It Out! Example 2
Amy reserves a hotel room for $45 per night. She stays for two nights and pays a sales tax of 13%. How much tax did she pay?
$45 2 = $90 Find the total price for the hotel stay.
$90 0.13 = $11.70 Write the tax rate as a decimal and multiply by the total price.
Amy spent $11.70 on sales tax.
6-6 Commission, Sales Tax, and Profit
Anna earns $1500 monthly. Of that, $114.75 is withheld for Social Security and Medicare. What percent of Anna’s earnings are withheld for Social Security and Medicare?
Additional Example 3: Using Proportions to Find the Percent of Earnings
Think: What percent of $1500 is $114.75?
Set up a proportion.114.75 1500
n100
=
n 1500 = 100 114.75 Find the cross products.
1500n = 11,475 Simplify.
6-6 Commission, Sales Tax, and ProfitAdditional Example 3 Continued
n = 7.65
7.65% of Anna’s earnings is withheld for Social Security and Medicare.
11,475 1500
n =
Simplify.
Divide both sides by 1500
Anna earns $1500 monthly. Of that, $114.75 is withheld for Social Security and Medicare. What percent of Anna’s earnings are withheld for Social Security and Medicare?
6-6 Commission, Sales Tax, and Profit
BJ earns $2500 monthly. Of that, $500 is withheld for income tax. What percent of BJ’s earnings are withheld for income tax?
Check It Out! Example 3
Think: What percent of $2500 is $500?
Set up a proportion. 500 2500
n100
=
n 2500 = 100 500 Find the cross products.
n = 20
50,000 2500
n =
2500n = 50,000 Simplify.
Simplify.
Divide both sides by 2500.
20% of BJ’s earnings are withheld for income tax.
6-6 Commission, Sales Tax, and Profit
A furniture store earns 30% profit on all sales. If total sales are $2790, what is the profit?
Additional Example 4A: Finding Profit and Total Sales
Think: What is 30% of 2790?
x = 0.30 2790 Set up an equation.
x = 837
The profit is $837.
Multiply.
6-6 Commission, Sales Tax, and Profit
Think: 10,044 is 30% of what number?
Let s = total sales
10,044 = 0.30 s Set up an equation.
33,480 = s Simplify.
The total sales are $33,480.
A furniture store earns 30% profit on all sales. If the store earns $10,044, how much are the total sales?
Additional Example 4B: Finding Profit and Total Sales
10,044 0.30
= Divide each side by 0.30. 0.30s 0.30
6-6 Commission, Sales Tax, and Profit
A retail store earns 40% profit on all sales. If total sales are $3320, what is the profit?
Check It Out! Example 4A
Think: What is 40% of 3320?
x = 0.40 3320 Set up an equation.
x = 1328
The profit is $1328.
Multiply.
6-6 Commission, Sales Tax, and Profit
Think: 5,680 is 40% of what number?
Let s = total sales
5,680 = 0.40 s Set up an equation.
14,200 = s Simplify.
The total sales are $14,200.
A furniture store earns 40% profit on all sales. If the store earns $5,680, how much are the total sales?
Check It Out! Example 4B
5,680 0.40
= Divide each side by 0.04. 0.40s 0.40
6-6 Commission, Sales Tax, and ProfitLesson Quiz
1.Every month, Gillian makes $1600 plus an 8.9% commission on sales. If her sales last month totaled $18,400, what was her total pay?
2. The sales tax is 5.75%, and the shirt costs $20. What is the total cost of the shirt?
3. Sheridan has a yearly income of $39,650, and he is advised to invest $4500 every year. What percent of his income should he invest, to the nearest tenth of a percent?
$21.15
$3237.60
11.3%
4. A grocery store earns 5% profit on all canned goods. If the store sold $1635 of canned goods, what was the profit? $81.75