Math Example--Math of Money--Calculating Tips and Commissions--Example 5

Topic

The Math of Money

Description

Calculate a 22.5% tip on a $159.99 restaurant bill. The problem requires finding 22.5% of 159.99. To calculate the tip, multiply the cost (159.99) by the tip rate (0.225). Tip = 159.99 * 0.225 ≈ 35.99. The answer is approximately $35.99.

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 $159.99 and we need to calculate a tip of 22.5%. 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.