Section 3.4 Applications of Percentages

SECTION 3.4APPLICATIONS OF PERCENTAGES

APPLICATIONS

Percentages is often used in areas where money isinvolved

Taxes to the government [GST, PST, Income Tax]

You pay taxes based on a percentage of your income

Commission: money earned from sales

You get paid based on a percentage of what you sell

Discounts from a sale: percentage off from the regularprice

Appreciation/Depreciation: Growth or decrease in thevalue of an object

Cars usually depreciates in value each year

Houses usually increase in value each year

Ex: Micheal is a realtor for Remax and he earns 3%commission on the first $100,000 and then 1% on the restof the estate. How much will he earn if he sold a house for$850,000?

The house is worth $850,000, so he earns 3% of $100,000 and 1% onrest of the house ($750,000)

First $100,000

Rest of Cost:

The total commission earned will be:

Practice: Tom works at the PNE as a vendor and makes $5each hour and 20% commission on all his sales. Howmuch will he make in one day if he worked for 8 hoursand made $950 in sale?

There’s two parts to this question because is he paid in two differentways: commission and salary

His salary for eight hours of work will be:

His commission is 20% of all his sales

The total amount of money he made in one day of work is:

Ex: Alan went to the Apple store to buy an iPad for $500.It was on sale at 20% off because he had a friend whoworked there. If tax is 12%, how much will he pay in total?

20% of the cost is taken off theregular price of $500.00

Discount: