Math Example--Math of Money--Calculating Tips and Commissions--Example 2

Topic

The Math of Money

Description

Calculate a 16% tip on a $55 restaurant bill. The problem requires finding 16% of 55. To calculate the tip, multiply the cost (55) by the tip rate (0.16). Tip = 55 * 0.16 = 8.8. The answer is $8.80.

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 $55 and we need to calculate a tip of 16%. 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.