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## Percent increase

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**Percent Change**• The ratio comparing a change in a quantity to the original amount. • Percent change= amount of change/original amount**Percent Increase**• Write an equation • Percent increase = amount of increase/original amount • Write/solve a proportion • Amount of increase/original amount = percent increase (%) / 100**Find the percent increase from 12 to 15**• Equation • Amount of increase / original amount = percent increase • 15-12 =3 amount of increase • Original amount = 12 • 3/12 = .25 = 25% • Proportion • Amount of increase / original = percent increase / 100 • 3/12=x/100 • 12x=300 • X=25**Amount of Profit**• Cost- original amount spent for an item • Profit- the money gained when an item is sold at cost • To find the amount of profit: • Multiply the original cost by the percent profit**A company buys microwave ovens for $200 each then sells each**at a gain of 15%. What is the company’s profit? • Write an equation • P = .15 x 200 • P = $30.00 • Write/solve a proportion • Profit / original = percent profit (%) / 100 • P/200 = 15/100 • 3000 = 100p • P = $30**Selling Price**• Selling price- the amount for which the item is sold. Add the profit to the cost to find the selling price. • A video dealer imports large flat screen TVs for $1200 each. The dealer then sells each TV at a profit of 30%. What is the selling price? • SP = $1200 + (30% of 1200) • SP = $1200 + (.30 x 1200 = $360) • SP = $1200 + $360 • SP = $1560**Sales tax- amount of tax added to the marked price by state**or local government. • Write an equation • Sales tax rate x marked price = sales tax • Set up/solve a proportion • Sales tax / marked price = sales tax rate (%) / 100**A calculator is priced at $29.95 with a sales tax of 6%.**What is the amount of sales tax to the nearest cent? • Equation • .06 x 29.95 = 1.797 = $1.80 • Proportion • t/29.95 = 6/100 • 100t=179.70 • T-1.7970 = $1.80**Discount**• Discount = discount rate x list price • Sale price = list price – discount • Discount rate = amount of discount / list price**Markup**• Markup = list price – wholesale price • Markup rate = markup / wholesale price • Markup rate is expressed as a percent**Commission-Amount of money earned for selling goods or**services. • Equation • Commission = commission rate x total sales • Write/solve proportion • Commission/total sales =commission rate (%) / 100**6% commission on $25,000 in sales**• .06 x 25,000 = • x/25,000 = 6/100 =**6% commission on $25,000 in sales**• .06 x 25,000 = $1500 • x/25,000 = 6/100 = $1500**$1755 earned on $92,000 in sales**• C x 92,000 = 1755 • 1755/92000 = x/100**$1755 earned on $92,000 in sales**• C x 92,000 = 1,755 • C=about 1.9% • 1755/92000 = x/100 • C=about 1.9%**Simple Interest**• Principal (p)- amount of money borrowed or deposited • Interest (I)- amount earned or paid in exchange for the use of money • Rate of interest (r)- percent of interest earned or paid • Time (t)- how long in years the principal is borrowed or left on deposit. • Simple interest- interest earned or paid only on the principal for a stated period of time**Interest = principal x rate x time**• I=prt Time is expressed in years or fractional part of a year**Find the simple interest (I):$800 at an annual rate of 8%**for 9 months • I=prt • I=(800)(.08)(9/12) • I= $48**Compound Interest**• Compound interest- interest paid on the principal and on the interest accumulated to date. • balance