Math Example--Math of Money--Calculating Tips and Commissions--Example 6

Topic

The Math of Money

Description

Calculate a 5% sales commission on a $1000 sale. The problem requires finding 5% of 1000. To calculate the commission, multiply the sale amount (1000) by the commission rate (0.05). Commission = 1000 * 0.05 = 50. The answer is $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 you earn a commission of 5% on a sale of $1000. To calculate the commission, multiply the sale amount by the commission percentage (as a decimal). This way, you can quickly determine your earnings from this sale!"

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