Math 6 Honors ( Periods 1, 2, & 3)

Commission and Profit 9-6

Some sales jobs pay an amount based on how much you sell. This amount is called a commission.

Like a discount, the commission can be expressed as a percent or as an amount of money.

amount of commission = percent of commission X total sales.

Using the examples from our textbook,

Maria sold $42,000 word of insurance in January. If her commission is 3% of the total sales, what was the amount of her commission in January?

amount of commission = percent X total sales
0.03 X 42,000 = 1260
Her commission was $1,260.

Profit is the difference between total income and total operating costs.

profit = total income – total costs

The percent of profit is the percent of total income that is profit

percent of profit = profit/total income
A shoe store had an income of $8600 and operating costs of $7310. What percent of the store's income was profit?

profit= income- total costs = 8600 -7310 = 1290

percent of profit = profit/total income = 1290/8600 = 0.15
So the percent of profit was 15%.

Practice finding 10%-- its easy--- just move the decimal over one place.
We practiced finding 20%. Just double what you got for 10%.



MATH AT WORK:
Caterer
A caterer provides food for parties, weddings, bar/bat mitzvahs, and other events. Caterers plan the menu, buy the ingredients, and cook the food. Often they provide seating and music as well. For each event, a caterer determines the cost per guest. The catering business requires a thorough knowledge of ratios, proportions, and percents.