Scenario: Shopping & Business - Learn to calculate taxes, discounts, and commissions in real-world situations!
A shirt originally costs $80. It's on sale for 15% off, and there's a 7% sales tax. What is the final price you'll pay?
Step-by-Step Solution:
Original price: $80
Discount: 15% off
Sales tax: 7%
Step 1: Calculate the discount amount
Discount = $80 × 0.15 = $12
Step 2: Find the sale price
Sale price = $80 - $12 = $68
Step 3: Calculate the tax
Tax = $68 × 0.07 = $4.76
Step 4: Find the final price
Final price = $68 + $4.76 = $72.76
A real estate agent sells a house for $450,000 and earns a 3% commission. How much commission does the agent earn?
Calculation: $450,000 × 0.03 = $13,500
The agent earns $13,500 in commission.
Commission Formula:
Commission = Sale Price × Commission Rate
Remember: Convert percentage to decimal (3% = 0.03)
Compare these two scenarios with a $100 item:
Original: $100
+20%: $100 × 1.20 = $120
-20%: $120 × 0.80 = $96
Final: $96
Original: $100
-20%: $100 × 0.80 = $80
+20%: $80 × 1.20 = $96
Final: $96
Key Insight: Both scenarios result in the same final price! This happens because the percentage changes are applied to different base amounts.
A laptop costs $1,200. It's on sale for 25% off. What is the sale price?
Your solution:
A meal costs $45.50. With an 8.5% tax, what is the total cost?
Your solution:
A salesperson earns 5% commission on all sales. If they sell $8,500 worth of products, how much commission do they earn?
Your solution:
A store offers 30% off all items, plus an additional 10% off for students. A student buys a $200 jacket. What is the final price?
Your calculation: