Math Example--Math of Money--Calculating Tips and Commissions--Example 1

Topic

The Math of Money

Description

Calculate a 15% tip on a $50 restaurant bill. The problem requires finding 15% of 50. To calculate the tip, multiply the cost (50) by the tip rate (0.15). Tip = 50 * 0.15 = 7.50. The answer is $7.50.

In general, the topic 'The Math of Money' covers understanding the calculation of financial metrics like tips and commissions. Examples in this collection focus on real-world scenarios where these calculations are necessary, helping students grasp the mathematical principles involved.

Seeing multiple worked-out examples is critical for students. It ensures they understand different contexts and variations of the problem, reinforcing their comprehension and adaptability.

Teacher Script: "Look at this example. Suppose the bill is $50 and we need to calculate a tip of 15%. We multiply the bill amount by the tip percentage (as a decimal) to find the tip. This way, we know exactly how much to leave for a tip!"

For a complete collection of math examples related to The Math of Money click on this link: Math Examples: Calculating Tips and Commissions Collection.