2.2.4 Applications of Percent – Practice
1. A salesperson earns a base salary of $32,500 per year plus a commission of 8% on total sales. Her total sales for one year were $450,000. Find the salesperson’s total pay for the year.
2. Find the simple interest paid for 7 years on a $600 loan at 5% per year.
3. Find the simple interest paid for 8 years on a $850 loan at 7.5% per year.
4. After 5 years the simple interest earned on an investment of $3,000 was $645. Find the interest rate.
5. After 6 months the simple interest earned annually on an investment of $5000 was $907. Find the interest rate to the nearest tenth of a percent.
6. Hidemi is a waiter. He waits on a table of 4 whose bill comes to $69.98. If Hidemi receives a 20% tip, approximately how much will he receive?
7. Hidemi is a waiter. He waits on a table of 4 whose bill comes to $90.27. If Hidemi receives a 15% tip, approximately how much will he receive?
8. The sales tax rate is 8.2%. Estimate the sales tax on a computer that costs $550.
9. The Sanchez family had dinner at their favorite restaurant. A 9% sales tax was added to their bill. Amy paid the bill with a $10 gift certificate plus $30.60. How much did the family’s dinner cost before tax? Round your answer to the nearest penny. Hint : Use the equation P + rP = T , where P is the price before tax, r is the sales tax rate, and T is the total price, including tax.
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